Sold an electric truck lift to Stierman Co. for $2,500 cash. The original cost was $7,900 with a ten-year life with a salvage value of $900. Accumulated depreciation recorded through 12/31/21 of $4,550. Blue Ridge utilizes the straight- line method for truck-lift assets. How to record a journal entry?

Answer rating: 100% (QA)

To record the sale of the electric truck lift to Stierman Co we need to account ... View the full answer