(Note: I need help with the Account Titles and a few of the amounts that are marked with questions marks. Please post your answer exactly the way the question is presented. There are 2 Account Titles in part A and 4 Account Titles in part B. Thanks for the help!)
Homework Answers
Solution:
General Journal entries
| No. | Account title and Explanation | Debit | Credit |
| a. | Depreciation Expenses ($3,216 × 8/12) | $2,144 | |
| Accumulated Depreciation | $2,144 | ||
| ( To record update depreciation for 2011) | |||
| b. | Cash | $14,070 | |
| Accumulated Depreciation ($11,256 + $2,144) | $13,400 | ||
| Machinery | $26,800 | ||
| Gain on Disposal of Machinery | $670 | ||
| (To record the sale) |
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(Note: I need help with the Account Titles and a few of the amounts that are...
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