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Tequila Mockingbird, a liquor store, purchased a new point-of-sale system to improve efficiency...

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Accounting

Tequila Mockingbird, a liquor store, purchased a new point $-$ of $-$ sale system to improve efficiency in ringing up customers. The point $-$ of $-$ sale system cost $ $16, 800,$ has an estimated useful life of $4$ years or $9, 700$ customers served, and an estimated residual $($ salvage $)$ value of $ $1, 280 .$ The point $-$ of $-$ sale system served $3, 880$ customers in year $1, 2, 910$ customers in year $2, 1, 940$ customers in year $3,$ and $970$ customers in year $4 .$

Suppose that Tequila Mockingbird sold the point $-$ of $-$ sale system at the end of the fourth year for $ $1, 280$ cash $($ after it was fully depreciated $) .$ Record the journal entry for the sale:

Journal entry worksheet

$1$

Tequila Mockingbird sold the point $-$ of $-$ sale system at the end of the fourth year for $ $1, 000$ cash $($ after it was fully depreciated $) .$

Note: Enter debits before credits.

$\$ table $[[,$ A $,$ B $,$ C $,$ D $], [,$ Date,Account Title,Debit,Credit $], [1,$ December $31$ st $,,,], [2,,,,], [3,,,,]]$

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