$($c$)$

Prepare the journal entry to record the sale of the building on Windsor's books, assuming $7$ years of depreciation has already

been recorded in the accounts to the date of disposal. The building was sold for $$6,864,000$ cash. $($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 $O$ for the amounts. List all debit entries before credit entries.$)$

Date Account Titles and Explanation

Debit

Credit

Sept. $15$ Windsor Ltd$.$ owned several manufacturing facilities. On September $15$ of the current year, Windsor decided to sell one of its

manufacturing buildings. The building had cost $$8,855,000$ when originally purchased $7$ years ago and had been depreciated using the

straight$-$line method with no residual value. Windsor estimated that the building had a $35-$year life when purchased.

$($a$)$

Your answer is correct.

Prepare the journal entry to record the sale of the building on Windsor's books, assuming $7$ years of depreciation has already

been recorded in the accounts to the date of disposal. The building was sold for $$7,214,000$ cash. $($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 $O$ for the amounts. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit

Sept. $15$

Cash

Accumulated Depreciation $-$ Buildings

Buildings

Gain on Disposal of Building Prepare the journal entry to record the sale of the building on Windsor's books, assuming $7$ years of depreciation has already

been recorded in the accounts to the date of disposal. The building was sold for $$7,084,000$ cash. $($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 $O$ for the amounts. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit

Sept. $15$