Business, 06.12.2019 04:31 davelopez979

Nash corporation owns machinery that cost $24,400 when purchased on july 1, 2017. depreciation has been recorded at a rate of $2,928 per year, resulting in a balance in accumulated depreciation of $10,248 at december 31, 2020. the machinery is sold on september 1, 2021, for $6,344. prepare journal entries to (a) update depreciation for 2021 and (b) record the sale. no.
account titles and explanation debit credit
(a) depreciation expense ? ?
accumulated depreciation-machinery ? ?
(b) cash 36330
accumulated depreciation-machinery ? ?
machinery ? ? gain on disposal of machinery ? ?

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Nash corporation owns machinery that cost $24,400 when purchased on july 1, 2017. depreciation has b...