Business, 23.04.2021 01:00 maddy121209
The company 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. Part 1: Prepare journal entries to update depreciation for 2021. Part 2: Prepare journal entries to record the sale.
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The company owns machinery that cost $20,000 when purchased on July 1, 2017. Depreciation has been r...
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