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Manchester Company sells equipment on June 1 of records annual depreciation on each December 31...

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Accounting

Manchester Company sells equipment on June 1 of records annual depreciation on each December 31
a. Prepare the journal entries needed to record the asset disposal on June 1, of the current year
Hint: First record the update for depreciation expense.
b. Record the journal entries if the equipment were abandoned (zero fair value) on June 1, of the current year.
Hint: First record the update for depreciation expense
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