On July 1, 2014, Oriole Enterprises sold equipment with an original cost of $94,300 for $36,900. The equipment was purchased January 1, 2011, and was depreciated using the straight-line method over a five-year useful life with a $10,200 salvage value. Prepare the journal entry to record the sale of the equipment. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit

On July 1, 2014, Oriole Enterprises sold equipment with an original cost of $94,300 for $36,900. The equipment was purchased January 1, 2011, and was depreciated using the straight-line method over a five-year useful life with a $10,200 salvage value. Prepare the journal entry to record the sale of the equipment. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit

Name: On July 1, 2014, Oriole Enterprises sold equipment with an original c
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Description: On July 1, 2014, Oriole Enterprises sold equipment with an original cost of $94,300 for $36,900. The equipment was purchasedJanuary 1, 2011, and was depreciated using the straight-line method over a five-year useful life with a $10,200 salvage value

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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