Question: Prepare tabular summaries to record these transactions. ( a ) Crane Company retires its delivery equipment, which cost $ 4 8 , 7 5 0

Prepare tabular summaries to record these transactions. (a) Crane Company retires its delivery equipment, which cost $48,750. Accumulated depreciation is also $48,750 on this delivery equipment. No salvage value is received. (b) Assume the same information as in part (a), except that accumulated depreciation for the equipment is $36,710 instead of $48,750.

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