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OpenStudy (anonymous):
Hey, can anyone help me with a journal entry for accounting?
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OpenStudy (anonymous):
On 3/31/14, Aberkonkie & Fitch sold for $1,620 cash equipment which originally cost $11,000. It had an estimated life of 5 years and salvage of $1,000. Accumulated depreciation as of 12/31/13 was $8,000 using the straight line method. Record depreciation on the equipment sold, then record the sale.
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