Abbott recorded depreciation

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Reference no: EM13918920

Abbott Landscaping purchased a tractor at a cost of $40,000 and sold it three years later for $12,700. Abbott recorded depreciation using the straight-line method, a five-year service life, and a $2,500 residual value. Tractors are included in the Equipment account.

1. Record the sale

Reference no: EM13918920

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Abbott recorded depreciation : Abbott Landscaping purchased a tractor at a cost of $40,000 and sold it three years later for $12,700. Abbott recorded depreciation using the straight-line method, a five-year service life, and a $2,500 residual value

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