Windsor Company purchased machinery for $595800 on January 2, 2023. Straight-line depreciation has been recorded based...

 

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Windsor Company purchased machinery for $595800 on January 2, 2023. Straight-line depreciation has been recorded based on a $30600 salvage value and a 3-year useful life. The machinery was sold on March 2, 2025 at a gain of $10400. The journal entry to record the sale of the machinery will include a credit to Gain on Disposal for $20200. a debit to Accumulated Depreciation - Equipment for $376800. a credit to Equipment for $187600. a debit to Cash for $198000. Save for Later Attempts: 0 of 1 used Submit Answer Windsor Company purchased machinery for $595800 on January 2, 2023. Straight-line depreciation has been recorded based on a $30600 salvage value and a 3-year useful life. The machinery was sold on March 2, 2025 at a gain of $10400. The journal entry to record the sale of the machinery will include a credit to Gain on Disposal for $20200. a debit to Accumulated Depreciation - Equipment for $376800. a credit to Equipment for $187600. a debit to Cash for $198000. Save for Later Attempts: 0 of 1 used Submit Answer