Question 2. Use the General Journal provided to record all the necessary entries for the...
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Question 2. Use the General Journal provided to record all the necessary entries for the disposal of the asset using double entry rules: Wildfire Traders sold office equipment on 31/10/18 for $6,600 cash (inc. GST). Details relating to the equipment sold are as follows: Date purchased: 1/7/14 Original cost (ex. GST) $9,000 Useful life 10 years Residual value Nil Depreciation rate: 10% - Straight-line Depreciation has been calculated and recorded in the accounting records on 30th June each year and was last recorded on 30/6/18. Page 8 of 12 Melbourne Polytechnic BSBFIA 401 Prepare Financial Reports Leamer Booklet 1, Assignment Version 3 Required: Prepare all general journal entries necessary to record the disposal of the asset. Wildfire Traders - General Journal Date Particulars Debit Credit
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