Gunkelson Company sells equipment on September 30, 2017, for $18,600 cash. The equipment originally cost $74,500 and as of January 1, 2017, had accumulated depreciation of $42,700. Depreciation for the first 9 months of 2017 is $4,950. Prepare the journal entries to (a) update depreciation to September 30, 2017, and (b) record the sale of the equipment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise 9-10 Gunkelson Company sells equipment on September 30, 2017, for $18,600 cash. The equipment originally cost $74,500 and as of January 1 2017, had accumulated depreciation of $42,700. Depreciation for the first 9 months of 2017 is $4,950. Prepare the journal entries to (a) update depreciation to September 30, 2017, and (b) record the sale of the equipment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter o for the amounts.) No. Account Titles and Explanation Debit Credit (a) Depreciation Expense 4,950 Accumulated Depreciati 4,950 (b) Cash 18,600 Accumulated Depreciation- 47650 Loss on Disposal of Plant A Equipment SHOW LIST OF ACCOUNTS LINK TO TEXT