The following are the transactions of Morrell Corporation.
| a. | Morrell Corporation disposed of two computers at the end of their useful lives. The computers had cost $3,200 and their Accumulated depreciation was $3,200. No residual value was received. |
| b. | Assume the same information as (a),except that Accumulated depreciation, updated to the date of disposal, was $2,500. |
| Required: |
| Prepare journal entries to record these transactions (Omit the "$" sign in your response): |
| Event | General Journal | Debit | Credit |
| a. | Accumulated depreciation | ||
| Computers | |||
| b. | Accumulated depreciation | ||
| Loss on disposal | |||
| Computers |
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