Tamarisk, Inc. owns equipment that cost $62,800 when purchased
on January 1, 2017. It has been depreciated using the straight-line
method based on an estimated salvage value of $4,600 and an
estimated useful life of 5 years.
Prepare Tamarisk, Inc.’s journal entries to record the sale of the
equipment in these four independent situations. (Credit
account titles are automatically indented when amount is entered.
Do not indent manually. Round answers to 0 decimal places, e.g.125.
If no entry is required, select "No Entry" for the account titles
and enter 0 for the amounts.)
(a) |
Sold for $29,920 on January 1, 2020. | |
---|---|---|
(b) |
Sold for $29,920 on May 1, 2020. | |
(c) |
Sold for $10,100 on January 1, 2020. | |
(d) |
Sold for $10,100 on October 1, 2020. |
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