On February 28, Reyes Company discarded office equipment with no salvage value . The following details are

Question:

On February 28, Reyes Company discarded office equipment with no . The following details are taken from the property and equipment record: cost, $ 2,000; accumulated depreciation as of the previous December 31, $ 1,820; monthly depreciation, $ 14. Journalize entries to record the depreciation of the office equipment to date and to record the disposal of the office equipment.

Salvage Value
Salvage value is the estimated book value of an asset after depreciation is complete, based on what a company expects to receive in exchange for the asset at the end of its useful life. As such, an asset’s estimated salvage value is an important...