Assignment Ch$.8$Question $6$ of $6$

Current Attempt in Progress

On March $1,2023,$ Sunland Ltd$.$ purchased a machine for $$63,000$ by paying $$21,000$ down and issuing a note for the balance. The

machine had an estimated useful life of nine years and an estimated residual value of $$6,300.$ Sunland Winds uses the straight$-$line

method of depreciation and has a December $31$ year end. On October $30,2025,$ the machine was sold for $$59,000.$

$($a$)$

Your answer is incorrect.

Prepare the journal entry to record the acquisition of the machine. $($Credit account titles are automatically indented when the amount

is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit

entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit

Mar. $1,$

$2023$

Depreciation Expense

Accumulated Depreciation $-$ Equipment

$[1]$

$]$

eTextbook and Media

Question $6$ of $6$

$\frac{-}{4}$

Current Attempt in Progress

On March $1,2023,$ Sunland Ltd$.$ purchased a machine for $$63,000$ by paying $$21,000$ down and issuing a note for the balance. The machine had an estimated useful life of nine years and an estimated residual value of $$6,300.$ Sunland Winds uses the straight$-$line method of depreciation and has a December $31$ year end. On October $30,2025,$ the machine was sold for $$59,000.$

$($a$)$

Prepare the journal entry to record the acquisition of the machine. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Mar. $1,$

$2023$

Debit

Credit

eTextbook and Media

List of Accounts