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Prepare the journal entries to record the disposal

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Question - On January 01, 2006 Skyline Company purchased equipment at a cost of $28,000. The equipment has been depreciated by the straight-line method using 4 years lifetime and $4,000 salvage value. Prepare the journal entries to record the disposal of the equipment assuming that it is sold for $5,000 on Jan 01, 2009.

Reference no: EM132943338

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