Business, 05.08.2021 17:00 coolvic345
Equipment costing Bennett Corporation $60,000 was destroyed by a tornado on January 1, 2021. The equipment, which has been deprecated through December 31, 2020, had accumulated depreciation of $30,500. The equipment was insured and Bennett expects to receive $15,000 from the insurance to settle the loss claim. Prepare the general journal entry to record the fire loss on January 1, 2021.
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Equipment costing Bennett Corporation $60,000 was destroyed by a tornado on January 1, 2021. The equ...
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