Business, 17.01.2020 03:31, erickamurillo9929

Abbott landscaping purchased a tractor at a cost of $27,000 and sold it three years later for $14,400. abbott recorded depreciation using the straight-line method, a five-year service life, and a $3,500 residual value. tractors are included in the equipment account.

1. record the sale. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)

2. assume the tractor was sold for $9,400 instead of $14,400. record the sale. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)

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Abbott landscaping purchased a tractor at a cost of $27,000 and sold it three years later for $14,40...