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Homework Answers
Journal entry
| Date | General Journal | Debit | Credit |
| Mar 1,2021 | Depreciation expense (328000-40000/8)*2/12 | 6000 | |
| Accumulated depreciation-Delivery truck | 6000 | ||
Journal entry
| Date | General Journal | Debit | Credit |
| Mar 1,2021 | Cash | 156000 | |
|
Accumulated depreciation-Delivery truck (328000-40000)/96*56 |
168000 | ||
| Loss on sale of delivery truck | 4000 | ||
| Delivery truck | 328000 | ||
Journal entry
| Date | General Journal | Debit | Credit |
| Mar 1,2021 | Cash | 167000 | |
|
Accumulated depreciation-Delivery truck (328000-40000)/96*56 |
168000 | ||
| Gain on sale of delivery truck | 7000 | ||
| Delivery truck | 328000 | ||
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I will give thumbs up for correct answer!
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I will give thumbs up for correct answers! Thank you!
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I will give thumbs up for correct answers! Thank you!
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I will give thumbs up for correct answers! Thank you!
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I will give thumbs up for correct answers!
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I will give thumbs up for correct answer!
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I will give thumbs up for correct answers! Thank you!
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