please upload a tidy and detailed work explanation. Kindly :)
Homework Answers
a) Journal entry
| No | General journal | Debit | Credit |
| a | Cash | 6500 | |
| Accumulated depreciation-Car (13500-3000/3*2) | 7000 | ||
| Car | 13500 | ||
| (To record sale of Car) |
b) Journal entry
| No | General journal | Debit | Credit |
| b | Cash | 4000 | |
| Accumulated depreciation-Car (13500-3000/3*2) | 7000 | ||
| Loss on sale of Car | 2500 | ||
| Car | 13500 | ||
| (To record sale of Car) |
c) Journal entry
| No | General journal | Debit | Credit |
| c | Cash | 6800 | |
| Accumulated depreciation-Car (13500-3000/3*2) | 7000 | ||
| Gain on sale of Car | 300 | ||
| Car | 13500 | ||
| (To record sale of Car) |
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