Business, 02.07.2020 19:01, AutumnGarringer
Abbott Landscaping purchased a tractor at a cost of $45,000 and sold it three years later for $21,000. Abbott recorded depreciation using the straight-line method, a five-year service life, and a $3,000 residual value. Tractors are included in the Equipment account.
Required:
1. Record the sale.
2. Assume the tractor was sold for $16,600 instead of $21,000.
Answers: 1
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Abbott Landscaping purchased a tractor at a cost of $45,000 and sold it three years later for $21,00...
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