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Chapter $7-$ Homework $($i

$10$

Part $2$ of $2$

$1\mathrm{.}07$

points

$01$:$57$:$35$

Required information

$[$The following information applies to the questions displayed below.$]$

Freeman Landscaping purchased a tractor at a cost of $$26,000$ and sold it three years later for $$13,900.$ Freeman recorded depreciation using the straight$-$line method, a five$-$year service life, and a $$3,500$ residual value. Tractors are included in the Equipment account.

$2.$ Assume the tractor was sold for $$9,100$ instead of $$13,900.$ Record the sale. $($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

Journal entry worksheet

$1$

Record the sale of tractor.

Note: Enter debits before credits.

$\backslash$table$[[$Transaction$,$General Journal,Debit,Credit$],[1,,,],[,,,],[,,,],[r,,,],[,,,],[,,,]]$

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