Question: On 1/1/X2, Carter Inc. sold one of its machines for $22,000 cash. The following data are available for the machine on the disposal date: Cost = $100,000 Accumulated depreciation = $65,000 Original residual value = $15,000
Required: In the journal below, prepare the journal entry to record the machine's disposal. Do not use symbols, decimals, or cents in the numerical response. Date Debit Credit 1/1/X2