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Harrison Harrison
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Posts: 626
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6 years ago
Stout Corp. sold some fully amortized equipment for $2,600 cash. The equipment had been purchased for $26,500 and Stout Corp. had estimated the useful life at 8 years and residual value at $3,500. The journal entry to record the sale of the equipment will include a:
A) debit to Loss on Sale of Equipment for $900
B) credit to Accumulated Depreciation for $23,000
C) credit to Equipment for $2,700
D) credit to Equipment for $3,500
Textbook 
Financial Accounting, Canadian Edition

Financial Accounting, Canadian Edition


Edition: 5th
Authors:
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TheSinTheSin
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6 years ago
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