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Assume that Hart corporation's comparative balance sheet reported these amounts: December 31 2017 2016 Plant and Equipment..................................... $625,000 $609,000 Less: Accumulated Depreciation................... $155,000 $135,000 Net

Assume that Hart corporation's comparative balance sheet reported these amounts:

December 31

2017 2016

Plant and Equipment..................................... $625,000 $609,000

Less: Accumulated Depreciation................... $155,000 $135,000

Net Plant and Equipment............................... $470,000 $474,000

1. Assume that on January 1, 2018, Hart sold one-tenth of its plant and equipment for 56,000 cash. Journalize this transaction for Hart

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