Business, 21.01.2021 22:40 xxhighwolfxx7508
Manchester Company sells equipment on June 1, 2021, for $333,600 cash. Manchester incurred $1,920 of removal and selling costs on disposal. The equipment cost $600,000 when it was purchased on January 2, 2018. Its estimated residual value and useful life were $96,000 and 10 years, respectively. Manchester uses straight-line depreciation and records annual depreciation on each December 31. a. Prepare the journal entries needed to record the asset disposal on June 1, 2021.
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Manchester Company sells equipment on June 1, 2021, for $333,600 cash. Manchester incurred $1,920 of...
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