On October 31, 2024, Alterative Landscapes discarded equipment that had a cost of $26,920. Accumulated Depreciation...

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On October 31, 2024, Alterative Landscapes discarded equipment that had a cost of $26,920. Accumulated Depreciation as of December 31, 2023, was $25,000. Assume annual depreciation on the equipment is $1,920. Journalize the partial-year depreciation expense and disposal of the equipment. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize the partial-year depreciation expense. Date Accounts and Explanation Debit Credit Oct. 31 Depreciation Expense-Equipment 1,600 Accumulated Depreciation-Equipment 1,600 To record depreciation on equipment. Calculate any gain or loss on the disposal of the equipment. (Enter a "0" for items with a zero value. Enter a loss with a minus sign or parentheses.) Market value of assets received Less: Book value of asset disposed of Cost Less: Accumulated Depreciation Gain or (Loss) IN Ea tem On October 31, 2024, Alterative Landscapes discarded equipment that had a cost of $26,920. Accumulated Depreciation as of December 31, 2023, was $25,000. Assume annual depreciation on the equipment is $1,920. Journalize the partial-year depreciation expense and disposal of the equipment. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize the partial-year depreciation expense. Date Accounts and Explanation Debit Credit Oct. 31 Depreciation Expense-Equipment 1,600 Accumulated Depreciation-Equipment 1,600 To record depreciation on equipment. Calculate any gain or loss on the disposal of the equipment. (Enter a "0" for items with a zero value. Enter a loss with a minus sign or parentheses.) Market value of assets received Less: Book value of asset disposed of Cost Less: Accumulated Depreciation Gain or (Loss) IN Ea tem