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Snark Corp., on March 31, 2020, sold an old machine that originally cost $58,000$54,000 and had accumulated depreciated of over its lifetime.
Problem a) Give the journal entry to record the sale if the machine sold for $4,000.
Problem b) Give the journal entry to record the sale if the machine sold for $2,400.
Problem c) Give the journal entry to record the sale if the machine sold for $8,500.
Problem d) Give the journal entry if the machine is simply thrown away with no cash received.
Financial Statement Analysis and Preparation
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