Larkspur corporation owns machinery that cost $20,400 when purchased on july 1, 2017. depreciation has been recorded at a rate of $2,448 per year, resulting in a balance in accumulated depreciation of $8,568 at december 31, 2020. the machinery is sold on september 1, 2021, for $10,710. prepare journal entries to (a) update depreciation for 2021 and (b) record the sale.

step 1: create a plan

step 2: inventory facility equipment/assets

step 3: create preventive maintenance procedures

step 4: create preventive maintenance schedules

step 5: train your maintenanceteam

step 6: analyze – adjust - improve

or

step 1 – pm procedure design: doing the effective things

step 2 – pm procedure scheduling: efficient use of people and resources

step 3 – pm lubrication engineering

step 4 – pm training: back on the chain gang

step 5 – pm program management plan

step 6 – communicate, communicate, communicate