Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Pharoah Company retires its delivery equipment, which cost $43,640. Accumulated depreciation is also $43,640 on this delivery equipment. No salvage value is received. (b) (a) Assume the same information as in part (a), except that accumulated depreciation for the equipment is $37,050 instead of 43,640.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Brief Exercise 9-07
Prepare journal entries to record these transactions. (Credit account titles are automatically indented when
amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account
titles and enter 0 for the amounts.)
Pharoah Company retires its delivery equipment, which cost $43,640. Accumulated depreciation is also
$43,640 on this delivery equipment. No salvage value is received.
(a)
Assume the same information as in part (a), except that accumulated depreciation for the equipment is
$37,050 instead of 43,640.
(b)
No. Account Titles and Explanation
Debit
Credit
(a)
(b)
Transcribed Image Text:Brief Exercise 9-07 Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Pharoah Company retires its delivery equipment, which cost $43,640. Accumulated depreciation is also $43,640 on this delivery equipment. No salvage value is received. (a) Assume the same information as in part (a), except that accumulated depreciation for the equipment is $37,050 instead of 43,640. (b) No. Account Titles and Explanation Debit Credit (a) (b)
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