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Tequila Mockingbird, a liquor store, purchased a new point-of-sale system to improve efficiency...

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Accounting

Tequila Mockingbird, a liquor store, purchased a new point-of-sale system to improve efficiency in ringing up customers. The point-of-sale system cost $16,800, has an estimated useful life of 4 years or 9,700 customers served, and an estimated residual (salvage) value of $1,280. The point-of-sale system served 3,880 customers in year 1,2,910 customers in year 2,1,940 customers in year 3, and 970 customers in year 4.
Suppose that Tequila Mockingbird sold the point-of-sale system at the end of the fourth year for $1,280 cash (after it was fully depreciated). Record the journal entry for the sale:
Journal entry worksheet
1
Tequila Mockingbird sold the point-of-sale system at the end of the fourth year for $1,000 cash (after it was fully depreciated).
Note: Enter debits before credits.
\table[[,A,B,C,D],[,Date,Account Title,Debit,Credit],[1,December 31st,,,],[2,,,,],[3,,,,]]
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