Journal entry for scrapping of jukebox

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Reference no: EM1357050

A rowdy spring break guest damages a jukebox that had been purchased in 1995 for $800. The jukebox had a useful of ten years, with an estimated salvage value of $75. The company decided to scrap the jukebox after the incident.

Prepare the journal entry recording the scrapping of the jukebox

Reference no: EM1357050

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