Cascade company was trying to sell some of its old oil and gas drilling equipment. On January
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Cascade company was trying to sell some of its old oil and gas drilling equipment. On January Cascade Company soldequipment to Yukon Oil and Gas Company. The equipment cost $ and had accumulated depreciation of $ on the date of sale. Yukon Oil and Gas Company gave Cascade Company a $ noninterest bearing note due December prevailing rate of interest for a note of this type on January was EV of $ PV of $ EVA of $ PVA of $ EVAD of $ and PVAD of $Use appropriate factors from the tables provided. If youranswer involves Discount on Notes Payable, abbreviate it to DON.Required:Prepare the journal entry for Yukon's purchase of the machine on January Prepare the journal entry for Yukon on December Prepare the journal entry for Yukon on December Prepare the journal entry for Yukon on December Journal entry worksheetS.NoDate Account title Debt CreditPrepare the journal entry for Yukon's purchase of the machine on January January :Record the entry for Yukon on December December :Prepare the journal entry for Yukon on December December :Prepare the journal entry for Yukon on December December :
Related Book For
Cost management a strategic approach
ISBN: 978-0073526942
5th edition
Authors: Edward J. Blocher, David E. Stout, Gary Cokins
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