Bylie company has an old factory machine that cost 50000, Accounting Basics

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Bylie company has an old factory machine that cost 50000

Question: Bylie Company has an old factory machine that cost $50,000. The machine has accumulated depreciation of $28,000. Bylie has decided to sell the machine.

(a) What entry would Bylie make to record the sale of the machine for $25,000 cash?

(b) What entry would Bylie make to record the sale of the machine for $15,000 cash?

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Accounting Basics: Bylie company has an old factory machine that cost 50000

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Accounting Basics: Bylie company has an old factory machine that cost 50000

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