question archive On 1 January 2006
On 1 January 2006
Subject:BusinessPrice: Bought3
On 1 January 2006. Company B purchased equipment at a cost of $2 million. The company estimated its salvage value to be SO.2 million at the end of useful life of 5 years. Actual proceeds from sale of the used asset turned out to be $0.5 million. Prepare the journal entries to record the disposal of the equipment
