Question
How would you appropriately put this in a journal entry?
Purchased a used computer (three years old) at Bestbuy. When new, computer cost was 7600 with the expected life of 10 years. The used cash register is estimated to have 7 year life.
Debit computer $2280
Credit cash $2280
Debit Depreciation expense $63
Credit Accumulated Depreciation $63
Purchased a used computer (three years old) at Bestbuy. When new, computer cost was 7600 with the expected life of 10 years. The used cash register is estimated to have 7 year life.
Debit computer $2280
Credit cash $2280
Debit Depreciation expense $63
Credit Accumulated Depreciation $63