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Provide all journal entries necessary for the sale

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Question - Docker Company purchased equipment on July 19, 2016, for $400,000. The estimated useful life is 8 years and residual value is $60,000. On April 7, 2022, they sold the equipment for $100,000. Use months to calculate deprecation.

Required - Provide all journal entries necessary for the sale of the equipment under the following conditions:

1. Docker uses straight line depreciation.

2. Docker uses double declining balance depreciation.

Reference no: EM132821387

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