Sowell Company owns a truck that cost $102,000. Depreciation totaling $70,000 had been taken on the truck
Question:
Sowell Company owns a truck that cost $102,000. Depreciation totaling $70,000 had been taken on the truck up to January 8, 2019, when it was sold for $28,300.
1. Give the journal entry to record the sale.
2. Assume, instead, that the truck is sold for $34,200. Give the journal entry to record the sale.
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GENERAL JOURNAL PAGE DATE DESCRIPTION POST REF DEBIT CREDIT 1 2019 1 1 2 Jan 8 Cash 28 ...View the full answer
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Related Book For
College Accounting Chapters 1-30
ISBN: 978-1259631115
15th edition
Authors: John Price, M. David Haddock, Michael Farina
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