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Solution:
Date | Account Titles and Explanation | Debit | Credit |
July. 31, 2021 | Depreciation Expenses [76800*7/12] | $ 44,800 | |
Accumulated Depreciation | $ 44,800 | ||
[To record current depreciation] | |||
July. 31, 2021 | Accumulated Depreciation [460800+44800] | $ 505,600 | |
Contribution Expense [Donation] | $ 1,408,000 | ||
Gain on disposal of machine | $ 249,600 | ||
Machine | $ 1,664,000 | ||
[To record donation of the machine] |
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