Beka Company owns equipment that cost $54,530 when purchased on January 1, 2008. It has been depreciated using the straight-line method based on estimated salvage value of $3,200 and an estimated useful life of 5 years.
Prepare Beka Company's journal entries to record the sale of the equipment in these four independent situations.
Sold for $31,798 on January 1, 2011. (For multiple debit/credit entries, list amounts from largest to smallest e.g. 10, 5, 3, 2. Round answers to 0 decimal places, e.g. 125.)
Sold for $31,798 on May 1, 2011. (For multiple debit/credit entries, list amounts from largest to smallest e.g. 10, 5, 3, 2. Round answers to 0 decimal places, e.g. 125.)
Sold for $10,950 on January 1, 2011. (For multiple debit/credit entries, list amounts from largest to smallest e.g. 10, 5, 3, 2. Round answers to 0 decimal places, e.g. 125.)
Sold for $10,950 on October 1, 2011. (For multiple debit/credit entries, list amounts from largest to smallest e.g. 10, 5, 3, 2. Round answers to 0 decimal places, e.g. 125.)
