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  3. during the current year, yost company disposed of

During the current year, Yost Company disposed of three different assets. On January 1 of...

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Accounting

During the current year, Yost Company disposed of three different assets. On January 1 of the current year, prior to the
disposal of the assets, the accounts reflected the following:
The machines were disposed of during the current year in the following ways:
a. Machine A: Sold on January 1 for $7,500 cash.
b. Machine B: Sold on December 31 for $54,120; received cash, $43,296, and an $10,824 interest-bearing (12 percent)
note receivable due at the end of 12 months.
c. Machine C: On January 1, this machine suffered irreparable damage from an accident. On January 10, a salvage
company removed the machine at no cost.
P8-5 Part 1
Required:
Give all journal entries related to the disposal of each machine in the current year.
a. Machine A.
b. Machine B.
c. Machine C.
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