Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 5 question 9 blossom company sells office equipmen

5 Question 9 Blossom Company sells office equipment on July 31, 2017 for $20,000 cash....

80.2K

Verified Solution

Question

Accounting

image

5 Question 9 Blossom Company sells office equipment on July 31, 2017 for $20,000 cash. The office equipment originally cost $72,000 and as of January 1, 2017, had accumulated depreciation of $35,000. Depreciation for the first 7 months of 2017 is $3.500. Prepare the journal entries to (a) update depreciation to July 31, 2017 and (brecord the sale of the equipment. (Credit account Witles pre automatically indented when amount is entered. Do not indent manually. If he entry required, No En for the account ities and enter a for the amounts) No. Account Titles and Explanation Debit Credit (a) (6)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students