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Prepare the journal entries to update depreciation to sept

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Question

Gunkelson Company sells equipment on September 30, 2017, for $18,400 cash. The equipment originally cost $73,700 and as of January 1, 2017, had accumulated depreciation of $42,500. Depreciation for the first 9 months of 2017 is $4,950.

Prepare the journal entries to (a) update depreciation to September 30, 2017, and (b) record the sale of the equipment.

Reference no: EM132408483

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