Exercise 7-7 Wildhorse Co. has delivery equipment that cost $54,600 and has been depreciated $23,500. Prepare a tabular summary to record the disposal under the following assumptions. It was scrapped as having no value. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduc = Liabilities + Assets Stockholders' Equity Retained Earnings Common Stock + Cash Accum. Depr. - Equip. = Dividend Equipment Revenue Expense + Bal. S $ S S LINK TO TET It was sold for $37,900. (Ifa transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) = Liabilities Stockholders' Equity Assets Retained Earnings -Accum. Depr. Equip. Common Stock Cash Equipment Dividend Revenue Expense + = Bal. LINK TO TT It was sold for $18,700. (Ifa transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) = Liabilities + Stockholders' Equity Assets Retained Earnings Common Stock Cash Expense Dividend Equipment Accum. Depr. - Equip. = Revenue + Bal $ Open Show Work Click if you would like to Show Work for this