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Prepare the missing adjusting entry

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Question - Adjusting Entries: Accumulated depreciation-equipment at 1/1/1X was $230,000. At 12/31/1X the balance of the account was $480,000. During 201X, one piece of equipment was sold. The equipment had an original cost of $40,000 and was 3/4 depreciated when sold. You are to prepare the missing adjusting entry. For each journal entry write Dr. for debit and Cr. for credit.

Reference no: EM132017689

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