A plant asset with a cost of $270,000, estimated life of 5 years, and residual value...

A plant asset with a cost of $270,000, estimated life of 5 years, and residual value of $45,000, is depreciated by straight-line method. This asset is sold for $190,000 at the end of the 2nd year. a) Prepare the entry for depreciation for the year? b) Prepare the entry for the sales of the asset.

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ekkarill92 answered 1 year ago

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