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Prepare the journal entry. 5. Apple sold a building for $500 in cash and relief of...

Prepare the journal entry.

5. Apple sold a building for $500 in cash and relief of the mortgage on the property of $250. Apple purchased the building 5 years ago for $800 and it has taken $160 for depreciation.    

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Journal entry

1. Cash a/c Dr $500

es Journal Entriel $640 1. cash al DI $500 tonon sale of building all Ox $ 140 To building ale [Being building sold for 104]

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