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Business, 17.09.2019 16:20 mqturner1989Kedie

Atruck that cost $36,000 and on which $30,000 of accumulated depreciation has been recorded was disposed of for $5,000 cash. the entry to record this event includes a

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Need with an adjusting journal entrycmc records depreciation and amortization expense annually. they do not use an accumulated amortization account. (i. e. amortization expense is recorded with a debit to amort. exp and a credit to the patent.) annual depreciation rates are 7% for buildings/equipment/furniture, no salvage. (round to the nearest whole dollar.) annual amortization rates are 10% of original cost, straight-line method, no salvage. cmc owns two patents: patent #fj101 and patent #cq510. patent #cq510 was acquired on october 1, 2016. patent #fj101 was acquired on april 1, 2018 for $119,000. the last time depreciation & amortization were recorded was december 31, 2017.before adjustment: land: 348791equpment and furniture: 332989building: 876418patents 217000
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Atruck that cost $36,000 and on which $30,000 of accumulated depreciation has been recorded was disp...

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