18 Prepare journal entries

Required information [The following information apples to the questions clispisyed below] As part of a major renovation at the beginning of the yeas, Atase Pharmaceuticals, incorporated, sold shelving units (recorded as Equipmeng that were 10 years old for $920 cash. The shelves originaly cost $6.880 and had been depreciated on a straightinge basis over an estamated uselul life of to years with an estamsted residual value of $480 Required: 1. Complete the accounting equation beiow, indicating the account, amount, and the effect of disposal Assume that depreciation has been recorded to the date of sale. (Enter ony decreases to Assets, Linbilities, or Stockholders' Equity with a minus sign. Do not round intermediete calculetions.) [The following information applies to the questions displayed below] As pait of a major renovation at the beginning of the year, Atiase Pharmaceuticals, Incorporated, sold shelving units frecorded as Equipment) that were 10 years old for $920 cash. The shelves originally cost $6,880 and had been depreciated on a straight-fine basis over an estimated useful life of 10 years with an estimated residual value of $480. Prepare the journal entry to record the sale of the shelving units. If no entry is required for o tronsoction/event, select "No Journa Entry Required" in the first occount field. Do not round intermediate calculations.) Journal entry worksheet Record the sale of the shelving units for $920. Note: Enter debts belore credits