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Lewis Company sold equipment for $11,000. The equipment originally cost $25,000 in 2014 and $6,000 was spent on a major overhaul in 2017 (charged to the Equipment account). Accumulated Depreciation on the equipment to the date of disposal was $20,000. Prepare the appropriate journal entry to record the disposition of the equipment.
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Lewis Company sold equipment for $11,000. The equipment originally cost $25,000 in 2014 and $6,000 w...
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