Business, 17.08.2020 18:01 chrisssrutter

Abbott Landscaping purchased a tractor at a cost of $36,000 and sold it three years later for $18,000. Abbott 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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Abbott Landscaping purchased a tractor at a cost of $36,000 and sold it three years later for $18,00...

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