The Marigold Corporation is disposing of a piece of equipment on May 1, 2025. The equipment had an original cost of $348,000 when purchased on January 1, 2021. Accumulated depreciation as of 12/31/2024 was $139,200 assuming straight-line depreciation over a useful life of 10 years with no salvage value. Marigold received $220,400 on the sale of the equipment. What is the journal entry to record the sale? (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 O for the amounts. List all debit entries before credit entries. Round answers to 0 decimal places, e.g. 5,125.) Date May 1, 2025 Account Titles and Explanation Debit III Credit 1

The Marigold Corporation is disposing of a piece of equipment on May 1, 2025. The equipment had an original cost of $348,000 when purchased on January 1, 2021. Accumulated depreciation as of 12/31/2024 was $139,200 assuming straight-line depreciation over a useful life of 10 years with no salvage value. Marigold received $220,400 on the sale of the equipment. What is the journal entry to record the sale? (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 O for the amounts. List all debit entries before credit entries. Round answers to 0 decimal places, e.g. 5,125.) Date May 1, 2025 Account Titles and Explanation Debit III Credit 1

Name: answer in text form please (without image), Note: .Every entry shoul
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Description: answer in text form please (without image), Note: .Every entry should have narration please The Marigold Corporation is disposing of a piece of equipment on May 1, 2025. The equipment had an original cost of $348,000 whenpurchased on January 1, 202

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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