Mercury inc. purchased equipment in 2016 at a cost of $400,000.

the equipment was expected to produce 700,000 units over the next five years and have a residual value of $50,000. the equipment was sold for $210,000 part way through 2018.

actual production in each year was: 2016 = 100,000 units; 2017=160,000 units; 2018 = 80,000 units.

mercury uses units-of-production depreciation, and all depreciation has been recorded through the disposal date.

required

1) prepare the journal entry to record the sale.

2) assuming that the equipment was sold for $245,000, prepare the journal entry to record the sale.

it's actually a very difficult task, due to not many people can make 2 million dollars in 2 years. besides that, to the not-so-realistic ideas, you can create a business. it could be practically anything, but make it into a business that isn't that known yet, you get me? also, lets not forget about stock market. that's where all the good stuff happens. use investments at the beginning and begin to raise up your business or whatever you're going to do. as this is a very non-realistic idea, it's still worth the shot!

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answer; intellectual property protection;