shown below are the t accounts

View Policies Shoe.' Attempt History Current Attempt in progress Shoem below are the T-accounts relatingto equipment that was purchased for cash by a company on the Krst day of the current year. The equipment was depreciated on a straight-line basis with an estimated useful life Of 10 years and a salvage value Of $240. Part Of the equipment was sold on the last day of the current year for cash prcreeds. 31 oec 31 Dec 31 Dec 31 Jam 1 Equipment 2640 oec 31 Accumulated Dec 31 Depreciation Expense LOSS on Disposal Of plant Assets Your answer is correct. 240 Prepare the joumal entries to record pu rchase of equipment on January 1. (List an debit entries credit entries. Credit account titles autcvnaticd'y indented when the is entered not it-dent manually. entry is required. select No Entm ECamt titles and enter O for the anounte) Date Jan. 1 Account Titles and Explanation Equ nt What was the cash paid? Cash paid $ eTextbook and Media List of Accounts Your answer i S correct_ Assistance Used Attempts; 1 of 3 used preoare the journal entry to record depreciation recorded on December 31, (List all debit entries credit entrks. Credit titles are indented when the is entered not no entry is required, select NO Ento* the titks and enter O for the arnounts) Date Dec. 31 Account Titles and Explanation n Expense What was the depreciation expense? Depreciation $ eTextbook and Media List of Accounts Assistance used Attempts: 1 of 3 used Preoare the i Durnal to record sale Of Dart Of the eauinment on December (List all debit entries credit entries Credit Ch 9 Homework Question 12 Of 14 Accumulated Oorec.iatiOnEquipment Cain on Of Plant Equipment What was the loss on disposal? Loss on disposal $ eTextbook and Media List of Accounts s fo r Later Last saved I day ago. Saved work Will be auto-submitted the due date. submission can take up to 10 minutes. 6.67 / 10 Assistance used Attempts: O Of 3 used Answer suppoRT