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On January 1, 2016. Horton Inc. sells a machine for $23,000. The machine was originally...

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Accounting

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On January 1, 2016. Horton Inc. sells a machine for $23,000. The machine was originally purchased on January 1, 2014 for $40,000. The machine was estimated to have a useful life of 5 years and no residual value. Horton uses straight-line depreciation. a. Prepare the journal entry to record the sale. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet

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