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Equipment was purchased for $40,000, with accumulated depreciation to date of $24,000. Assuming the equipment was sold for $14,200, journalize the entry to record the
Equipment was purchased for $40,000, with accumulated depreciation to date of $24,000.
Assuming the equipment was sold for $14,200, journalize the entry to record the sale.
| ACCOUNT | DEBIT | CREDIT |
| CASH | 14,200.00 | |
| ACCUMULATION DEPRECIATION EQUIPMENT | 24,000.00 | |
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Financial Accounting A Critical Approach
Authors: John Friedlan
3rd Edition
0070967601, 978-0070967601
