On June 6, 2020, Lindhardt Chocolates Ltd. purchased assembly line equipment for $374,880. Lindhardt's management estimated that

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On June 6, 2020, Lindhardt Chocolates Ltd. purchased assembly line equipment for $374,880. Lindhardt's management estimated that the equipment had a useful life of four years and an estimated residual value of $26,400. Lindhardt uses the straight-line method of depreciation and has a December 31 year end. On June 21, 2022, the machine was sold for $153,400.

Prepare the journal entry to record the acquisition of the equipment.

Posted Date: Apr 07, 2022 02:09 AM

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On June 6, 2020, Lindhardt Chocolates Ltd. purchased assembly line equipment for $374,880. Lindhardt's management estimated that

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