Homework Answers
a) Journal entry
| No | Account title and explanation | Debit | Credit |
| a | Cash | 33000 | |
| Accumulated depreciation-Machine | 36960 | ||
| Gain on sale of machine | 3960 | ||
| Machine | 66000 |
b) Journal entry
| No | Account title and explanation | Debit | Credit |
| b | Cash | 19800 | |
| Accumulated depreciation-Machine | 36960 | ||
| Loss on sale of machine | 9240 | ||
| Machine | 66000 |
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decided to sell the machine. (Credit account titles are
automatically indented when amount is entered. Do not indent
manually. If no entry is required, select "No Entry" for the
account titles and enter 0 for the
amounts.)
(a)
What entry would Bramble make to record the sale of the machine
for $29,875 cash?
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