Prepare sandhill company journal entry to record the sale

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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.

Problem 1: Prepare Sandhill Company's journal entry to record the sale of the equipment for $35,600on January 2, 2024.

Problem 2: Prepare Sandhill Company's journal entry to record the sale of the equipment for $35,600on May 1, 2024.

Reference no: EM132902393

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