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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
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.
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