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How present the journal entries to record the disposal

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Problem 1: On March 31, 2020, Paige's Company disposed of old equipment that cost $9,000 and had been depreciated $7,800 as of March 31, 2020. Present the journal entries to record the disposal under each of the following unrelated assumptions:

1. The equipment was sold for $3,200.
2. The equipment was given to charity.
3. The equipment was exchanged for a new machine with a fair value of $12,800. Paige received a $1,500 trade-in allowance and she paid cash for the remaining amount.

Reference no: EM132683967

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