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Prepare sandhill company journal entry

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Reference no: EM132980202

Question - Sandhill Company owns equipment that cost $72,000 when purchased on January 2, 2021. It has been depreciated using the straight-line method based on estimated residual value of $6,000 and an estimated useful life of five years.

Following are the four independent situations

A) Prepare Sandhill Company's journal entry to record the sale of the equipment for $35,600on January 2, 2024.

b) Prepare Sandhill Company's journal entry to record the sale of the equipment for $35,600on May 1, 2024.

c) Prepare Sandhill Company's journal entry to record the sale of the equipment for $15,300on January 2, 2024.

d) Prepare Sandhill Company's journal entry to record the sale of the equipment for $15,300on October 1, 2024.

Reference no: EM132980202

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