In the space provided below, prepare the journal entry to record the sale of the stallion on May 31, 2009. (Use Breeding Stock as the title of the asset account. Assume that depreciation to date of sale already has been recorded.)
Definitions:
Interstate Commerce Clause
A provision in the U.S. Constitution granting Congress the power to regulate commerce between states.
Privileges and Immunities Clause
A provision in the United States Constitution that prevents a state from treating citizens of other states in a discriminatory manner.
Necessary and Proper Clause
A provision in the United States Constitution (Article I, Section 8) granting Congress the power to pass all laws considered necessary and proper for carrying out the enumerated list of powers.
U.S. Constitution
The supreme law of the United States that outlines the national frame of government and the fundamental rights of its citizens.
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