On January 2, Dixie, Incorporated, pays a salvage company $1,000 to haul away a machine costing $28,000 with accumulated depreciation of $28,000. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. No 1 Date January 02 Answer is not complete. General Journal Accumulated depreciation Loss on disposal of machinery Cash Machinery 0000 Debit 28,000 1,000 Credit 28,000 1,000
On January 2, Dixie, Incorporated, pays a salvage company $1,000 to haul away a machine costing $28,000 with accumulated depreciation of $28,000. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. No 1 Date January 02 Answer is not complete. General Journal Accumulated depreciation Loss on disposal of machinery Cash Machinery 0000 Debit 28,000 1,000 Credit 28,000 1,000
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter18: Accounting For Long-term Assets
Section: Chapter Questions
Problem 5CE: Prepare journal entries for the following transactions: a. A machine with a cost of 10,000 and...
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![On January 2, Dixie, Incorporated, pays a salvage company $1,000 to haul away a machine costing $28,000 with accumulated
depreciation of $28,000.
Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in
the debit or credit columns.
No
1
Date
January 02
Answer is not complete.
General Journal
Accumulated depreciation
Loss on disposal of machinery
Cash
Machinery
0000
Debit
28,000
1,000
Credit
28,000
1,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0086c006-771a-4a18-9964-0eb5ef70a1a2%2Fe513bcdc-931e-4725-988f-1f791fd3961b%2Fj67bsw3_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On January 2, Dixie, Incorporated, pays a salvage company $1,000 to haul away a machine costing $28,000 with accumulated
depreciation of $28,000.
Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in
the debit or credit columns.
No
1
Date
January 02
Answer is not complete.
General Journal
Accumulated depreciation
Loss on disposal of machinery
Cash
Machinery
0000
Debit
28,000
1,000
Credit
28,000
1,000
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