A company owns equipment that cost $126,200 and has accumulated depreciation of $90,900 as of January...

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A company owns equipment that cost $126,200 and has accumulated depreciation of $90,900 as of January 1. Prepare the entry to record the disposal of this equipment on January 1 for each separate situation. a. Equipment is sold for $36,050 cash. b. Equipment is sold for $27,200 cash. A company owns equipment that cost $126,200 and has accumulated depreciation of $90,900 as of January 1. Prepare the entry to record the disposal of this equipment on January 1 for each separate situation. a. Equipment is sold for $36,050 cash. b. Equipment is sold for $27,200 cash.

Answer rating: 100% (QA)

Lets prepare the journal entries for the disposal of the equipment for each separate situation menti... View the full answer