Forward Co. discarded a machine that cost $5,000 and was fully depreciated. The entry to record this transaction would include a

Question

Lera25 [3.4K]

2 years ago

13

Forward Co. discarded a machine that cost $5,000 and was fully depreciated. The entry to record this transaction would include a

credit to the _________ account.

SAT

1 answer:

Nezavi [6.7K] · Answer 1 · 2023-03-30T22:59:18+03:00

The entry to record this transaction would include a credit to the Machinery account.

<h3>What is the entry of the journal sales record?</h3>

A journal entry is defined as the act of keeping or making records of any transactions either economic or non-economic. Transactions are usually listed in accounting journals in such a way that shows a company's debit and credit balances.

Now, the journal entry can consist of several recordings, each of which is either a debit or a credit. However, in this case the company discarded a machine at a cost which was fully depreciated and as such the entry into the journal of this transaction will be under the machinery account.

Read more about Journal Entry at; brainly.com/question/14279491

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