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Concord company has an old factory machine that cost 56750

Question - Concord Company has an old factory machine that cost $56,750. The machine has accumulated depreciation of $31,780. Concord has decided to sell the machine.

a) What entry would Concord make to record the sale of the machine for $28,375 cash?

b) What entry would Concord make to record the sale of the machine for $17,025 cash?

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Accounting Basics: Concord company has an old factory machine that cost 56750

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Accounting Basics: Concord company has an old factory machine that cost 56750

Reference No:- TGS02514531

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