Equipment acquired at a cost of $126,000 has a book value of $42,000. Journalize the disposal of the equipment under the following independent assumptions.
Journal
Definitions:
Smoking In Bed
A dangerous practice that involves smoking while lying down in bed, posing significant risks of fire and injury.
Space Heater
A portable device used to heat a small area, often electric or fueled by combustible materials.
RACE Method
An acronym standing for "Rescue, Alarm, Confine, Extinguish," used as a protocol in fire safety training.
Physical Therapy Session
A period of treatment involving exercises, massages, and other methods to improve movement, strength, and function, usually under the guidance of a physical therapist.
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