On September 30,2024 , Stemberg Company sold office equipment for $12,000. The equipment was purchased...
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Accounting
On September 30,2024 , Stemberg Company sold office equipment for $12,000. The equipment was purchased on March 31 , 2021, for $24,000. The asset was being depreciated over a five-year life using the straight-ine method, with depreciation based on months in service, No residual value was anticipated Required: Prepare the journal entries to record 2024 depreciation and the sale of the equipment. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field
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