Which of these will most likely have a positive effect on your lifestyle?
1 answer:
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Answer and Explanation:
The journal entry would be
Cash Dr $15,000
Accumulated depreciation ($10,000 + $2,000) $12,000
Loss on disposal - Plant assets $2,000
To equipment $29,000
(Being the sale of the equipment is recorded)
here the cash, accumulated depreciation and loss would be debited as it increased the assets and losses while on the other hand the equipment is credited as it decreased the assets
