Garcia Co. owns equipment that cost $79,200, with accumulated depreciation of $42,000. 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) $48,800 cash, (2) $37,200 cash, and (3) $32,100 cash Answer is not complete. Transaction No General Journal Debit Credit 1 Cash 48,800 1 Accumulated depreciation 42,000 Equipment 2 Cash 37,200 37,200 X Accumulated depreciation Equipment 3 Cash 32,100 32,100x Accumulated depreciation