Marigold Corporation owns machinery that cost $28,400 when purchased on January 1,2023. Depreciation has been...

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Accounting

Marigold Corporation owns machinery that cost $28,400 when purchased on January 1,2023. Depreciation has been recorded at a
rate of $4,260 per year, resulting in a balance in accumulated depreciation of $8,520 at December 31,2024. The machinery is sold on
September 1,2025, for $9,740.
(a)
Prepare the journal entry to update depreciation for 2025.(Credit account titles are automatically indented when the amount is
entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry
before credit entry.)
Date
Account Titles and Explanation
Debit
Credit
September
1,2025
image

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