Join the IDNLearn.com community and start finding the answers you need today. Discover comprehensive answers from knowledgeable members of our community, covering a wide range of topics to meet all your informational needs.
McDowell Enterprises sold equipment on January 1, 2030 for [tex]$10,000. The
equipment had cost $[/tex]48,000. The balance in Accumulated Depreciation at January 1 is [tex]$38,000. What entry would Bo make to record the sale of the
equipment?
(Hint: If net book value of an asset is greater than the sales price, then, it will be
loss. If the sales price is greater than the net book value of an asset, then, it will
be gain.)
Account Titles and
Explanation
[Select]
[Select]
Equipment
To record sale of equipment
General Journals
Debit ($[/tex]) Credit ($) [Select] 38,000 [Select]
Sagot :
Your participation is crucial to us. Keep sharing your knowledge and experiences. Let's create a learning environment that is both enjoyable and beneficial. IDNLearn.com is committed to providing accurate answers. Thanks for stopping by, and see you next time for more solutions.
