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Make the journal entry for pence corporation

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Question - Pence Corporation purchased an automobile on January 1, 2018 for $25,000. On January 1, 2020, the Accumulated Depreciation account for the automobile showed a credit of $10,000. Pence sold the automobile that very day for $12,000. Make the journal entry for Pence Corporation for the 1/1/20 sale.

Reference no: EM133133197

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