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Business & Finance Assignment | Custom Assignment Help

Author:
October 29th, 2019

6.On November 1, 2013, Rob’s Auto Repair purchased diagnostic equipment for $18,000. The equipment had an estimated residual value of $3,000 and a five-year life and was sold on May 1, 2015. Assuming that the company depreciates the asset on a straight-line basis and reports on a calendar-year basis, journalize the following independent transactions in the journal provided. (Omit explanations)

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a. The entry to update depreciation to May 1, 2015

b. The entry to record the sale for $15,000

c. The entry to record the sale instead for $11,000

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d. The entry to record the sale instead for $13,500 Get business finance assignment homework help today

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