No Required Information Problem 7-8A (Algo) Record the disposal of equipment (LO7-6) [The following information applies to the questions displayed below.] Problem 7-8A (Algo) Part 4 4. Record the sale of the ovens at the end of the second year. (If no entry is required for a transaction/event, select "No Journa Entry Required" in the first account field.) 1 New Morning Bakery is in the process of closing its operations. It sold Its two-year-old bakery ovens to Great Harvest Bakery for $680,000. The ovens originally cost $888,000, had an estimated service life of 10 years, had an estimated residual value of $58,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. Transaction 1 Cash Loss Equipment Answer is not complete. General Journal Debit 680,000 42,000 Credit 88,800
No Required Information Problem 7-8A (Algo) Record the disposal of equipment (LO7-6) [The following information applies to the questions displayed below.] Problem 7-8A (Algo) Part 4 4. Record the sale of the ovens at the end of the second year. (If no entry is required for a transaction/event, select "No Journa Entry Required" in the first account field.) 1 New Morning Bakery is in the process of closing its operations. It sold Its two-year-old bakery ovens to Great Harvest Bakery for $680,000. The ovens originally cost $888,000, had an estimated service life of 10 years, had an estimated residual value of $58,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. Transaction 1 Cash Loss Equipment Answer is not complete. General Journal Debit 680,000 42,000 Credit 88,800
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
i just need the ans of wrong box
![No
Required Information
Problem 7-8A (Algo) Record the disposal of equipment (LO7-6)
[The following information applies to the questions displayed below.]
Problem 7-8A (Algo) Part 4
4. Record the sale of the ovens at the end of the second year. (If no entry is required for a transaction/event, select "No Journal
Entry Required" in the first account field.)
1
New Morning Bakery is in the process of closing its operations. It sold Its two-year-old bakery ovens to Great Harvest
Bakery for $680,000. The ovens originally cost $888,000, had an estimated service life of 10 years, had an estimated
residual value of $58,000, and were depreciated using straight-line depreciation. Complete the requirements below for
New Morning Bakery.
Transaction
1
Cash
Loss
Equipment
Answer is not complete.
General Journal
Debit
680,000
42,000
Credit
88,800](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F866c8a8f-6aab-4cb8-951d-e9d3eed856e3%2Fbf761485-35e1-4387-a312-ac7b21365523%2Fdm7vqp_processed.png&w=3840&q=75)
Transcribed Image Text:No
Required Information
Problem 7-8A (Algo) Record the disposal of equipment (LO7-6)
[The following information applies to the questions displayed below.]
Problem 7-8A (Algo) Part 4
4. Record the sale of the ovens at the end of the second year. (If no entry is required for a transaction/event, select "No Journal
Entry Required" in the first account field.)
1
New Morning Bakery is in the process of closing its operations. It sold Its two-year-old bakery ovens to Great Harvest
Bakery for $680,000. The ovens originally cost $888,000, had an estimated service life of 10 years, had an estimated
residual value of $58,000, and were depreciated using straight-line depreciation. Complete the requirements below for
New Morning Bakery.
Transaction
1
Cash
Loss
Equipment
Answer is not complete.
General Journal
Debit
680,000
42,000
Credit
88,800
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