Question: I need 1-3 for the general journal. I'm getting lost. 2 Exercise 10-17 Partial-year depreciation; disposal of plant asset LO P2 2.5 points Rayya Co.
I need 1-3 for the general journal. I'm getting lost.

2 Exercise 10-17 Partial-year depreciation; disposal of plant asset LO P2 2.5 points Rayya Co. purchases a machine for $159,600 on January 1, 2019. Straight-line depreciation is taken each year for four years assuming a eight-year life and no salvage value. The machine is sold on July 1, 2023, during its fifth year of service. Skipped Prepare entries to record the partial year's depreciation on July 1, 2023, and to record the sale under each seperate situation. (1) The machine is sold for $79,800 cash. (2) The machine is sold for $67,032 cash. eBook View transaction list Hint Journal entry worksheet 2 Print Record the depreciation expense as of July 1, 2023. References Note: Enter debits before credits. Date General Journal Debit Credit July 01, 2023 Record entry Clear entry View general journal
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
