On December 29, 2015, Patel Products, Inc., sells a delivery van that cost $20,000. After recording the entry to bring the accumulated depreciation up-to-date, the delivery van had accumulated depreciation of $18,000. Patel received $2,500 cash from the purchaser of the delivery van.
Required:
Write the necessary journal entry to record the sale.
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On December 29, 2015, Patel Products, Inc., sells a delivery van that cost $20,000. After recording...
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