Oriole Company sells office equipment on July 31, 2022, for $21,000 cash. The office equipment originally...

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Oriole Company sells office equipment on July 31, 2022, for $21,000 cash. The office equipment originally cost $73,600 and as of January 1, 2022, had accumulated depreciation of $42,300. Depreciation for the first 7 months of 2022 is $5,250. Prepare the journal entries to (a) update depreciation to July 31, 2022, and (b) record the sale of the equipment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation (a) (b) eTextbook and Media List of Accounts Save for Later Debit Cred SUPP Oriole Company sells office equipment on July 31, 2022, for $21,000 cash. The office equipment originally cost $73,600 and as of January 1, 2022, had accumulated depreciation of $42,300. Depreciation for the first 7 months of 2022 is $5,250. Prepare the journal entries to (a) update depreciation to July 31, 2022, and (b) record the sale of the equipment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation (a) (b) eTextbook and Media List of Accounts Save for Later Debit Cred SUPP

Answer rating: 100% (QA)

a To update depreciation to July 31 2022 General Journal Date Acco... View the full answer