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Coronado Corporation owns machinery that cost $30,000 when purchased on fuly 1,2017. Depreciation has been...

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Accounting

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Coronado Corporation owns machinery that cost $30,000 when purchased on fuly 1,2017. Depreciation has been recorded at a rate of $3,600 per year, resulting in a balance in accumulated deprecistion of $12,600 at December 31,2020 . The rnachinervis sold on September 1,2021, for $15,750. Prepare joumal entries to (a) update depreciaticn for 2021 and (b) rerord the sale. iCrefit accounk bives are outumatically indented when amount is entered. Oo not indent manually. If no entry is required, sedert "No Entry' for the account bilies and enter of for the amounts)

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