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Brief Exercise 10-10 a-b Monty Company sells equipment on September 30, 2020, for $18,600 cash. The equipment originally cost $74,900 and as of January 1,
Brief Exercise 10-10 a-b Monty Company sells equipment on September 30, 2020, for $18,600 cash. The equipment originally cost $74,900 and as of January 1, 2020, had accumulated depreciation of $42,700. Depreciation for the first 9 months of 2020 is $5,750. Prepare the journal entries to (a) update depreciation to September 30, 2020, and (b) record the sale of the equipment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Debit Credit No. Account Titles and Explanation (a) (0) Click if you would like to Show Work for this question: Open Show Work
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