Antone Company sells office equipment on July 31, 2025, for $21,000 cash. The office equipment originally cost
Question:
Antone Company sells office equipment on July 31, 2025, for $21,000 cash. The office equipment originally cost $72,000 and as of January 1, 2025, had accumulated depreciation of $42,000. Depreciation for the first 7 months of 2025 is $4,600. Prepare the journal entries to
(a) Update depreciation to July 31, 2025
(b) Record the sale of the equipment.
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a 73125 Depreciation Expense Accumulated Depreciation Equipment b 731...View the full answer
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Related Book For 
Accounting Tools For Business Decision Making
ISBN: 9781119791058
8th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Jill E. Mitchell
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