E$8-16($Algo$)$ Recording the Disposal of an Asset at Three Different Sale Prices LO$8-5$

Delta Air Lines owns hundreds of aircraft, with about $60$ percent of its fleet consisting of Boeing aircraft, while Airbus aircraft make up about $40$ percent. It sold seven used Boeing $767-300$ jets to

Amazon.com as Amazon plans to expand its growing Amazon Air cargo service. The average age of the jets is about $20$ years old.

Assume the records of the company reflected the following for the jets that were sold:$$

$$62,400,000$

$47,200,000$

Required:

Prepare the journal entry for the disposal of the airplanes, assuming that the airplanes sold for:

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

a$.$ $$15,200,000$ cash

b$.$ $$17,100,000$ cash

c$.$ $$14,300,000$ cash

$q,$

$$

Journal entry worksheet

$1$

$2$

$3$

Record the disposal of the aircraft, assuming the aircraft were sold for $$15,200,000$ cash.

Note: Enter debits before credits.

$\backslash$table$[[$Transaction$,$General Journal,Debit,Credit$],[$a$.,1,,],[,,,],[,$Her,,$],[,,,],[,,,]]$