A company purchased a computer system on January 7,2007, for $1,600,000. Prepare the journal entries...
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Accounting
A company purchased a computer system on January 7,2007, for $1,600,000. Prepare the journal entries to record depreciation for the first 6 months of 2007 and the sale of the computer assuming it is sold on July 1, 2009, for $1,000,000 cash. The straight-line method of depreciation was used based on an expected life of six years and a salvage value of $130,000. Please show calculations.
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