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Prepare journal entries to record transactions

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Reference no: EM133160235

Question - The following are the transactions of Morrell Corporation:

Morrell Corporation disposed of two computers at the end of their useful lives. The computers had cost $4,720 and their Accumulated Depreciation was $4,720. No residual value was received.

Assume the same information as (a), except that Accumulated Depreciation, updated to the date of disposal, was $3,440.

Required - Prepare journal entries to record above transactions.

Reference no: EM133160235

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