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Computer equipment (office equipment) purchased 6 1/2 years ago for $170,000, with an estimated life of 8 years and a residual value of $10,000, is now sold for $60,000 cash. (Appropriate entries for depreciation had been made for the first six years of use.) Journalize the following entries: (a) Record the depreciation for the one-half year pri or to the sale, using the straght-line method.
(b) Record the sale of the equipment.
(c) Assuming that the equipment had been sold for cash, prepare the entry to record the sale.
Moral Compass
An individual's internal ethical guideline that helps them determine right from wrong actions and decisions.
Critical Thinkers
Individuals who actively engage in objective analysis and evaluation of an issue in order to form a judgment.
With Respect
A phrase used to indicate that something is being said or done showing politeness, honor, or admiration towards another.
Ethical Question
A query that involves matters of right and wrong conduct, often requiring thoughtful consideration of moral principles and outcomes.
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