Question

Thornton Company has an old factory machine that cost $50,000. The machine has accumulated depreciation of $28,000. Thornton has decided to sell the machine.
(a) What entry would Thornton make to record the sale of the machine for $25,000 cash?
(b) What entry would Thornton make to record the sale of the machine for $15,000 cash?



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  • CreatedApril 07, 2014
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