a company, whose primary business is selling printers, just purchased 20 printers for $5,000 each....
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Accounting
A company, whose primary business is selling printers, just purchased 20 printers for $5,000 each. How would these printers be accounted for based on usage at the point of purchase and over time? Answer each separately please (Please do not discuss various depreciation methods, they only use straight-line, nor paraphrase or quote from the book). Please show the initial journal entry for each usage and at the point of sale or end of useful life. 1. One will be used as a demo on the floor for two months and then sold for $6,000 2. One will be used by the r& d department for two years with not residual value, 3. One will be used by the accounting department for 4 years with no residual value 4. The rest will be sold for 8,000 each
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