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Prepare the journal entry for the disposal of the furniture

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Reference no: EM132940596

Marriott International is a worldwide operator and franchisor of hotels and related lodging facilities totalling over $3.9 billion in property and equipment. It also develops, operates, and markets time-share properties totalling nearly $4.0 billion. Assume that Marriott replaced furniture that had been used in the business for five years. The records of the company reflected the following regarding the sale of the existing furniture:

Furniture (cost) $6,200,000

Accumulated depreciation 5,290,000

Required:

Problem 1. Prepare the journal entry for the disposal of the furniture, assuming that it was sold for:
a. $910,000 cash
b. $2,120,000 cash
c. $610,000 cash

Reference no: EM132940596

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