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stephyaz
Feb 18, 2009, 05:16 PM
a machine with a cost of 100K and accumlated depreciation of 80K was sold at a loss of 6K. What amount of cash was recieved from the sale? My answer is 74K. Is this correct?
pready
Feb 18, 2009, 07:37 PM
Debit Cash for 14K
Debit Accumulated Depreciation for 80K
Debit Loss on Sale for 6K
Credit Machine 100K