Now assume Florence sells another delivery van $3,000. This van was purchased for $30,000 and was depreciated using the straight-line method over 10 years with no salvage value. Depreciation was last recorded 12/31/18 (bringing Accumulated Depreciation to $27,000 at that date), and the van is sold on 6/30/19. The entry to record the sale would include

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Now assume Florence sells another delivery van for $3,000. This van was purchased for $30,000 and was depreciated using the straight-line method over 10 years with no salvage value. Depreciation was last recorded 12/31/18 (bringing Accumulated Depreciation to $27,000 at that date), and the van is sold on 6/30/19. The entry to record the sale would include
Transcribed Image Text:Now assume Florence sells another delivery van for $3,000. This van was purchased for $30,000 and was depreciated using the straight-line method over 10 years with no salvage value. Depreciation was last recorded 12/31/18 (bringing Accumulated Depreciation to $27,000 at that date), and the van is sold on 6/30/19. The entry to record the sale would include
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