Garcia Co. owns equipment that cost $77,600, with accumulated depreciation of $41,200. Garcia sells the equipment for cash. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $47,600 cash, (2) $36,400 cash, and (3) $31,300 cash.

1. Record the sale of equipment assuming Garcia sells the equipment for $47,600 cash. 2. Record the sale of equipment assuming Garcia sells the equipment for $36,400 cash. 3. Record the sale of equipment assuming Garcia sells the equipment for $31,300 cash.

Transaction General Journal / Debit Credit