Question: You do not need to insert comma and/or RM for your answers in numbers. A company purchased a computer system on 1 January 2000, for

You do not need to insert comma and/or RM for your answers in numbers. A company purchased a computer system on 1 January

You do not need to insert comma and/or RM for your answers in numbers.

A company purchased a computer system on 1 January 2000, for RM1,600,000. The straight-line method of depreciation was used based on an expected life of six years and a residual value of RM130,000. Required: Fill in the blanks for the following journal entries to record depreciation for the first 6 months of 2002 and the sale of the computer assuming it is sold on 1 July 2002, for RM1,000,000 cash. July 1 Depreciation Expense Accumulated Depreciation-Computer 1 Cash Accumulated Depreciation-Computer Computer Equipment II (gain or loss) on Disposal of Computer*

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