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Alpha Company purchased a non-current asset for $20,000 cash two years ago. It had a...

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Accounting

Alpha Company purchased a non-current asset for $20,000 cash two years ago. It had a four year life and was going to be depreciated using the straight line method (no residual). After two years, its accumulated depreciation was $10,000. The asset was sold to Beta Company for $12,000 cash at the end of year 2. It still had two years of life remaining. Provide the general journal entry to record this sale.

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