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Delta Air Lines owns hundreds of aircraft, with about 60 percent of its fleet consisting...

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Accounting

Delta Air Lines owns hundreds of aircraft, with about 60 percent of its fleet consisting of Boeing aircraft, while Airbus aircraft make up about 40 percent. It sold seven used Boeing 767-300 jets to
Amazon.com as Amazon plansyto expand its growing Amazon Air cargo service. The average age of the jets is about 20 years old.
Assume the records of the company reflected the following for the jets that were sold:
Aircraft cost
Accumulated depreciation
4{:[$2,500,000]46,500,000
Bequired:
Prepare the journal entry for the disposal of the airplanes, assuming that the airplanes sold for:
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
a. $16,000,000 cash
b. $16,700,000 cash
c. $14,400,000 cash
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