New Morning Bakery is in the process of closing its operations. It sold its two-year-old...
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New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $680,000. The ovens originally cost $888,000, had an estimated service life of 10 years, and an estimated residual value of $58,000. New Morning Bakery uses the straight-line depreciation method for all equipment. 4. Record the sale of the ovens at the end of the second year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 Record the sale of ovens. Note: Enter debits before credits. Transaction General Journal Debit Credit Check m
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