47) Cashman-Diblase, Inc. sold a used piece of equipment with an original cost basis of $355,000. Accumulated Depreciation at the time of sale was $45,000. If the used equipment is sold on account for $300,000 the Je to record the transaction would include: A) Debit to Equipment for $355,000 B) Debit to Cash for $300,000 C) Debit to Loss/Gain on Sale of $10,000 D) Credit to Loss/Gain on Sale of $10,000 E) Credit to Accumulated Depreciation of $45,000 F) Credit to Accounts Receivable for $300,000 48) Tatham, Tatipigari, and Toma Dance Studios established a Petty Cash fund for $150. The JE to establish the fund would include: A) Debit to Cash for $150 B) Debit to Petty Cash for $150 C) Debit to Miscellaneous Expense of $150 D) Credit to Petty Cash for $150 E) Credit to Miscellaneous Expense of $150 F) NO JE is required 49) Write out the formula for the A/R turnover. 50) 3 year old equipment has an original cost basis of $50,000. Straight line depreciation expense each year is $5,000. Accumulated Depreciation is currently showing a credit balance of $15,000. What is the current Adjusted Basis (aka Book Value) of the Equipment