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

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

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

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

Aircraft cost

Accumulated depreciation

$$62,200,090$

$46,300,600$

Required:

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

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

a$.$ $$15,900,000$ cash

b$.$ $$16,800,000$ cash

c$.$ $$14,900,000$ cash

Journal entry worksheet

$1$

$2$

$3$

Record the disposal of the aircraft, assuming the aircraft were sold for $$15,900,000$ cash.

Ncte: Enter debits betore crects.

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