Selling a machine on account at a gain
Transaction
A company sells a used machine on account for $9,000.00; the buyer will pay in 30 days. The machine cost $18,000.00 and its accumulated depreciation is $12,000.00.
Assumptions: Depreciation is accumulated in Accumulated Depreciation. Depreciation has been recorded up to the date of sale. Sales tax is ignored in this item.
Accounts
Tap an account, then choose Debit or Credit and type the amount. × removes a line.
Debit
No lines yet. Choose an account above.
Credit
No lines yet. Choose an account above.
Debits $0.00Credits $0.00
Loading the checker…