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straight-line method based on an estimated salvage value of $6,400 and an estimated useful life...

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Accounting

straight-line method based on an estimated salvage value of $6,400 and an estimated useful life of 5 years.
Prepare Cullumber Company's journal entries to record the sale of the equipment in these four independent situations. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
(a) Sold for $39,680 on January 1,2025.
(b) Sold for $39,680 on May 1,2025.
(c) Sold for $14,080 on January 1,2025.
(d) Sold for $14,080 on October 1,2025.
No. Account Titles and Explanation
Debit
Credit
(a)
Accumulated Depreciation-Equipment
Gain on Disposal of Plant Assets
Equipment
(b)
Depreciation Expense
Accumulated Depreciation-Equipment
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