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On January 1, 2022, a company disposed of equipment for $16,200 cash that had cost...

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Accounting

On January 1, 2022, a company disposed of equipment for $16,200 cash that had cost $35,000, a salvage value of $5,000, and a useful life of 10 years. The double-declining-balance depreciation method was used. On December 31, 2021, accumulated depreciation was $20,664. Prepare a journal entry to record the disposal of the equipment.

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