Antone Company sells offi ce equipment on July 31, 2022, for $21,000 cash. The offi ce equipment
Question:
Antone Company sells offi ce equipment on July 31, 2022, for $21,000 cash. The offi ce equipment originally cost $72,000 and as of January 1, 2022, had accumulated depreciation of $42,000. Depreciation for the fi rst 7 months of 2022 is $4,600. Prepare the journal entries to (a) update depreciation to July 31, 2022, (b) record the sale of the equipment.
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a 73122 Depreciation Expense 4600 Accumulated Depreciation ...View the full answer
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Related Book For 
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119493631
9th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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