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Business, 20.01.2020 23:31 10040813

Pearl corporation owns machinery that cost $27,600 when purchased on july 1, 2017. depreciation has been recorded at a rate of $3,312 per year, resulting in a balance in accumulated depreciation of $11,592 at december 31, 2020. the machinery is sold on september 1, 2021, for $14,490. prepare journal entries to

(a) update depreciation for 2021 and
(b) record the sale.

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