depreciation methods 454642

Computer equipment (office equipment) purchased 6 1/2 years ago for $170,000, with an estimated life of 8 years and a residual value of $10,000, is now sold for $60,000 cash. (Appropriate entries for depreciation had been made for the first six years of use.) Journalize the following entries:

(a)	Record the depreciation for the one half year prior to the sale, using the straight line method.
(b)	Record the sale of the equipment.
(c)	Assuming that the equipment had been sold for $30,000 cash, prepare the entry for (b) above to record the sale.

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