Disposition of long-term assets (Learning Objective 5) 5–10 min.

On September 30, 2014, Ahlia Company sold old equipment for $46,000. The equipment was purchased on January 1, 2012, for $96,000 and was estimated to have a

$16,000 residual value at the end of its 5-year life. Depreciation on the equipment has been recorded through December 31, 2013. Make the journal entry to record Ahlia’s sale of equipment.

AppendixLO1