(a) A machine is purchased at a cost of $36,000 and has a book value of...
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(a) A machine is purchased at a cost of $36,000 and has a book value of $12,000 is sold for $27,000. (b) A machine is purchased at a cost of $36,000 and has a book value of $12,000 has no market value and is discarded. (c) A machine is purchased at a cost of $36,000 and has a book value of $12,000 is sold for $7,000. REQUIRED: Journalize the disposal of the Machine under the following independent assumptions. (a) A machine is purchased at a cost of $36,000 and has a book value of $12,000 is sold for $27,000. (b) A machine is purchased at a cost of $36,000 and has a book value of $12,000 has no market value and is discarded. (c) A machine is purchased at a cost of $36,000 and has a book value of $12,000 is sold for $7,000. REQUIRED: Journalize the disposal of the Machine under the following independent assumptions.
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a Assuming the machine is sold for 27000 Debit Cash 27000 Debit Accumulated Depreciation 24000 36000 ... View the full answer
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