Cullumber Company owns equipment that cost $86,000 when purchased on January 1, 2019. It has been depreciated using the straight-line method based on an estimated salvage value of $26,000 and an estimated useful life of 5 years. Prepare Cullumber Company's journal entries to record the sale of the equipment in these four independent situations. (Credit account titles are automatically indented when amount is en sentered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) (a) (b) (c) (d) Sold for $52,000 on January 1, 2022. Sold for $52.000 on May 1, 2022 Sold for $23,000 on January 1, 2022 Sold for $23,000 on October 1, 2022.
Cullumber Company owns equipment that cost $86,000 when purchased on January 1, 2019. It has been depreciated using the straight-line method based on an estimated salvage value of $26,000 and an estimated useful life of 5 years. Prepare Cullumber Company's journal entries to record the sale of the equipment in these four independent situations. (Credit account titles are automatically indented when amount is en sentered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) (a) (b) (c) (d) Sold for $52,000 on January 1, 2022. Sold for $52.000 on May 1, 2022 Sold for $23,000 on January 1, 2022 Sold for $23,000 on October 1, 2022.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Cullumber Company owns equipment that cost $86,000 when purchased on January 1, 2019. It has been depreciated using the
straight-line method based on an estimated salvage value of $26,000 and an estimated useful life of 5 years.
Prepare Cullumber Company's journal entries to record the sale of the equipment in these four independent situations. (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 O for the amounts.)
(a) Sold for $52,000 on January 1, 2022.
(b)
Sold for $52,000 on May 1, 2022
(c)
Sold for $23,000 on January 1, 2022
(d)
Sold for $23,000 on October 1, 2022.
Transcribed Image Text:Viral marketing messages have a higher chance of being opened because they are
coming from a:
Friend
O Previously known advertisement media
Reliable advertisement media
Known sale associate
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