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Required information [The following information applies to the questions displayed below.) Abbott Landscaping purchased a...

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Accounting

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Required information [The following information applies to the questions displayed below.) Abbott Landscaping purchased a tractor at a cost of $30,000 and sold it three years later for $16,200. Abbott recorded depreciation using the straight-line method, a five-year service life, and a $4,000 residual value. Tractors are included in the Equipment account 2. Assume the tractor was sold for $10,600 Instead of $16,200. Record the sale. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Credit No Transaction General Journal Debit 1 10,600 Accumulated Depreciation 15,600 Loss Equipment "Red text indicates no response wasted in a coller a formula base callation is incorredne point deducted 5,000 30,000

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