June 10 Sold obsolete store equipment for $630 cash. The equipment originally cost $2,105 and...
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Accounting
June 10 Sold obsolete store equipment for $630 cash. The equipment originally cost $2,105 and depreciation to March 31 of this year (the end of the first quarter) totals $1,200. The asset depreciates on a straight-line basis at a rate of $40 per month and depreciation is calculated to the nearest month (two entries required). For the depreciation entry type DEPRE at the invoice prompt. At the invoice prompt for the sale type ASALE.
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