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Answered Same Day Dec 29, 2021

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Debarpan answered on Feb 09 2021

150 Votes

1. Journal entries as on January 1 are as under:
(a)
    Provision for Depreciation on Machineries A/c...Dr.
Loss on Sale of Machineries A/c..........................Dr.
To Machineries A/c
    $182,000
$68,000

$250,000
(b)
    Cash A/c................................................................Dr.
Provision for Depreciation on Machineries A/c...Dr.
Loss on Sale of Machineries A/c..........................Dr.
To Machineries A/c
    $35,000
$182,000
$33,000

$250,000
(c)
    Cash A/c................................................................Dr.
Provision for Depreciation on Machineries A/c...Dr.
To Machineries A/c
    $68,000
$182,000

$250,000
(d)
    Cash A/c................................................................Dr.
Provision for Depreciation on...

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