Business, 14.04.2020 18:15 utjfkdndidndldn62121

A company purchased a tractor at a cost of $36,000 and sold it three years later for $18,000. The company recorded depreciation using the straight-line method, a five-year service life, and a $2,000 residual value. Tractors are included in the Equipment account.
1-Record the sale of equipment.
2-Assume the tractor was sold for $11,200 instead of $18,000. Record the sale.

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A company purchased a tractor at a cost of $36,000 and sold it three years later for $18,000. The co...

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