Ivanhoe Company owns equipment that cost $ when purchased on January It has been depreciated using the straightline method based on estimated salvage value of $ and an estimated useful life of years.
Prepare Ivanhoe Company's journal entries to record the sale of the equipment in these four independent situations. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select No Entry" for the account titles and enter for the amounts.
a Sold for $ on January
b Sold for $ on May
c Sold for $ on January
d Sold for $ on October
No Account Titles and Explanation
Debit
Credit
a
