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Prepare a journal entry to record the disposal of equipment

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On january 1, 2017, abc company sold equipment for 16,000 cash that had cost 35,000, a salvage value of 5,000 and a useful life of 10 years. the double declining balance depreciation method was used. on december 31, 2016, accumulated depreciation was 20,600. prepare a journal entry to record the disposal of the equipment.

Reference no: EM131795618

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