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Company sold equipment on June 30, 2005 for $70,000. The equipment had cost $100,000 and had $50,000 of accumulated depreciation as of January 1, 2005.
Company sold equipment on June 30, 2005 for $70,000. The equipment had cost $100,000 and had $50,000 of accumulated depreciation as of January 1, 2005. Depreciation for the first 6 months of 2005 was $5,000. Prepare the journal entry to record the sale of the equipment. Account Title Debit Credit Step by Step Solution
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Advanced Accounting
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupni
13th edition
1259444953, 978-1259444951
