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Dalton Inc sold a piece of manufacturing equipment for $20,000 on June 30, 2019. They originally bought the equipment for $33,000 on January 1, 2016.
Dalton Inc sold a piece of manufacturing equipment for $20,000 on June 30, 2019. They originally bought the equipment for $33,000 on January 1, 2016. Dalton estimated the equipment had a 5 year useful life with a $3,000 salvage value. Dalton has been using the straight-line method to depreciate the equipment. The balance in the Accumulated Depreciation account for the equipment on June 30, 2019 just prior to the sale was $18,000. The adjusting entry Dalton must make on June 30 to update depreciation will include which of the following? O A debit to Depreciation Expense for $3,000 O A debit to Depreciation Expense for $6,000 O A debit to Accumulated Depreciation for $6,000 O A debit to Accumulated Depreciation for $3,000 Some other
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