please provide narrations also along with full work step by step Delta Air Lines owns hundreds of aircraft, with about 60 percent of its fleet consisting of Boeing aircraft, while Airbus aircraft make up about 40 percent. It sold seven used Boeing 767-300 jets to Amazon.com as Amazon plans to expand its growing Amazon Air cargo service. The average age of the jets is about 20 years old. Assume the records of the company reflected the following for the jets that were sold: Aircraft cost Accumulated depreciation Required: 1. Prepare the journal entry for the disposal of the airplanes, assuming that the airplanes sold for: Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. $15,700,000 cash $16,300,000 cash $14,600,000 cash Journal entry worksheet < 1 2 $62,500,000 46,800,000 3 Record the disposal of the aircraft, assuming the aircraft were sold for $15,700,000 cash. Transaction Note: Enter debits before credits. a General Journal Debit Credit >

please provide narrations also along with full work step by step Delta Air Lines owns hundreds of aircraft, with about 60 percent of its fleet consisting of Boeing aircraft, while Airbus aircraft make up about 40 percent. It sold seven used Boeing 767-300 jets to Amazon.com as Amazon plans to expand its growing Amazon Air cargo service. The average age of the jets is about 20 years old. Assume the records of the company reflected the following for the jets that were sold: Aircraft cost Accumulated depreciation Required: 1. Prepare the journal entry for the disposal of the airplanes, assuming that the airplanes sold for: Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. $15,700,000 cash $16,300,000 cash $14,600,000 cash Journal entry worksheet < 1 2 $62,500,000 46,800,000 3 Record the disposal of the aircraft, assuming the aircraft were sold for $15,700,000 cash. Transaction Note: Enter debits before credits. a General Journal Debit Credit >

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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