Prepare journal entries to record these transactions. (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 0 for the amounts.) (a) (b) (a) Sheridan Company retires its delivery equipment, which cost $49,970. Accumulated depreciation is also $49.970 on this delivery equipment. No salvage value is received. No. Account Titles and Explanation (b) Assume the same information as in part (a), except that accumulated depreciation for the equipment is $36,820 instead of 49,970. -Truthnak dadle Debit Credit 1000
Prepare journal entries to record these transactions. (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 0 for the amounts.) (a) (b) (a) Sheridan Company retires its delivery equipment, which cost $49,970. Accumulated depreciation is also $49.970 on this delivery equipment. No salvage value is received. No. Account Titles and Explanation (b) Assume the same information as in part (a), except that accumulated depreciation for the equipment is $36,820 instead of 49,970. -Truthnak dadle Debit Credit 1000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Prepare journal entries to record these transactions. (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 0 for the amounts.)
(a)
(b)
(a)
Sheridan Company retires its delivery equipment, which cost $49,970. Accumulated depreciation is also $49,970 on this
delivery equipment. No salvage value is received.
No. Account Titles and Explanation
(b)
Assume the same information as in part (a), except that accumulated depreciation for the equipment is $36,820 instead of
49,970.
-Truthnak anddle
Debit
Credit
1000
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