Marigold Manufacturing has old equipment that cost $57,000. The equipment has accumulated depreciation of $28,400. Marigold has decided to sell the equipment. (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) What entry would Marigold make to record the sale of the equipment for $33,000 cash? What entry would Marigold make to record the sale of the equipment for $15,000 cash? (b) Account Titles and Explanation Debit Credit (a) (b)
Marigold Manufacturing has old equipment that cost $57,000. The equipment has accumulated depreciation of $28,400. Marigold has decided to sell the equipment. (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) What entry would Marigold make to record the sale of the equipment for $33,000 cash? What entry would Marigold make to record the sale of the equipment for $15,000 cash? (b) Account Titles and Explanation Debit Credit (a) (b)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Marigold Manufacturing has old equipment that cost $57,000. The equipment has accumulated depreciation of $28,400. Marigold has decided to sell the equipment. (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.)
What entry would Marigold make to record the sale of the equipment for $33,000 cash?
(b
What entry would Marigold make to record the sale of the equipment for $15,000 cash?
Account Titles and Explanation
Debit
Credit
(а)
(b)
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