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Prepare the journal entries to record depreciation

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Question - On September 30, 20x3, Sternberg Company sold office equipment for $12,000. The equipment was purchased on March 31, 20x0, for $24,000. The asset was being depreciated over a five-year life using the straight-line method, with depreciation based on months in service. No residual value was anticipated.

Required: Prepare the journal entries to record 20x3 depreciation and the sale of the equipment.

Reference no: EM131577963

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