Prepare the journal entries to record the following transactions for the Nobles Company, which has a financial year end of 31 December and uses the straight-line method of depreciation.
(a) On 30 September, 2019, the company sold old delivery equipment for $9,000. The delivery equipment was purchased on 1 January, 2017, for $21,000 and was estimated to have a $3,000 residual value at the end of its 5-year life. Depreciation on the delivery equipment has been recorded through 31 December, 2018.
(b) On 30 June, 2019, the company sold old office equipment for $18,000. The office equipment originally cost $24,000 and had accumulated depreciation to the date of disposal of $10,000.

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The Answer of Prepare the journal entries to record the following transactions for the Nobles Company, which has a financial year end of 31 December and uses the straight-line method of depreciation.
(a) On 30 September, 2019, the company sold old delivery equipment for $9,000. The delivery equipment was purchased on 1 January, 2017, for $21,000 and was estimated to have a $3,000 residual value at the end of its 5-year life. Depreciation on the delivery equipment has been recorded through 31 December, 2018.
(b) On 30 June, 2019, the company sold old office equipment for $18,000. The office equipment originally cost $24,000 and had accumulated depreciation to the date of disposal of $10,000.

Prepare the Journal Entries to Record the Following Transactions for the Nobles