Prepare journal entries for the following independent transactions.

Required

$1.$ Swift Canoe Limited sold office equipment for $$10,000$ cash. The original cost of the equipment was $$15,000$; accumulated depreciation up to the date of sale had a balance of $$6,900.$

$2.$ Swift Canoe Limited disposed of fully amortized office furniture. The office furniture had a cost of $$10,200$ and no residual value.

Answer rating: 100% (QA)

1 For the sale of office equipment Debit Cash 10000 Cred... View the full answer