As part of a major renovation at the beginning of the year, Bonhams Bakery sold shelving units

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As part of a major renovation at the beginning of the year, Bonham’s Bakery sold shelving units (store fixtures) that were 10 years old for $1,800 cash. The original cost of the shelves was $6,500 and they had been depreciated on a straight-line basis over an estimated useful life of 12 years with an estimated residual value of $800. Record the sale of the shelving units.

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Financial Accounting

ISBN: 978-1259964947

10th edition

Authors: Robert Libby, Patricia Libby, Frank Hodge

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