Business, 15.11.2019 22:31 shalcarter2001

Ottawa corporation owns machinery that cost $20,000 when purchased on july 1, 2017. depreciation has been recorded at a rate of $2,400 per year, resulting in a balance in accumulated depreciation of $8,400 at december 31, 2020. the machinery is sold on september 1, 2021, for $10,500. prepare journal entries to (a) update depreciation for 2021 and (b) record the sale.

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Ottawa corporation owns machinery that cost $20,000 when purchased on july 1, 2017. depreciation has...

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