Garcia Co. owns equipment that cost $78,400, with accumulated depreciation of $41,600. 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) $48,200 cash, (2) $36,800 cash, and (3) $31,700 cash.

Garcia Co. owns equipment that cost $78,400, with accumulated depreciation of $41,600. 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) $48,200 cash, (2) $36,800 cash, and (3) $31,700 cash View transaction list Journal entry worksheet Record the sale of equipment assuming Garcia sells the equipment for $48,200 cash Note: Enter debits before credits. Credit General Journal Transaction Debit Record entry Clear entry View general journal