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    mellosmoothe23's Avatar
    mellosmoothe23 Posts: 1, Reputation: 1
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    #1

    Apr 12, 2004, 05:30 PM
    Accounting
    I need help with this journal entries:
    Sold old store equipment for 320 cash The equipment originally cost 1025 and depreciation to sept 30 of this year(the end of the third quarter) totals 820 The asset depreciates on a straight line basis at a rate of $20 per month and depreciation is calculated to the nearest month
    matrix's Avatar
    matrix Posts: 7, Reputation: 1
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    #2

    May 24, 2004, 06:17 PM
    Accounting
    Cash $320
    Accumulated Depreciation 820
    Equipment $1,025
    Loss on Sale of Equipment 115
    To record sale of equipment.
    ;)
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