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Homework Answers
Answer- Journal entries-
| Transactions | General Journal | Debit | Credit | |
| $ | $ | |||
| a | Accumulated depreciation- Equipment | 4440 | ||
| Equipment | 4440 | |||
| (Being entry recorded) | ||||
| b | Accumulated depreciation- Equipment | 2880 | ||
| Loss on disposal of Equipment ($4440-$2880) | 1560 | |||
| Equipment | 4440 | |||
| (Being entry recorded for loss on sale of equipment) | ||||
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