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The following information applies to the questions displayed below.
Abbott Landscaping purchased a tractor at a cost of $ and sold it three years later for $ Abbott recorded depreciation using the straightline method, a fiveyear service life, and a $ residual value. Tractors are included in the Equipment account.
Assume the tractor was sold for $ instead of $ Record the sale. If no entry is required for a particula ansactioneven select No Journal Entry Required" in the first account field.
Journal entry worksheet
Record the sale of tractor.
Note: Enter debits before credits.
tableTransactionGeneral Journal,Debit,Credit
