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Journal entries to record current year depreciation

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Question - At the beginning of the current year, Andy Company has equipment that originally cost $50,000, has $35,000 accumulated depreciation, and is being depreciated at $5,000 per year. Andy sells this equipment for $12,000 at the end of the current year.

Required -

Journal entries to record both the current year's depreciation and the disposal of the equipment.

Journal entries to record both the current year's depreciation and the disposal of the equipment at December 31.

Reference no: EM133133836

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