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In 2022, Copeland Co. sold Equipment for $9,200. The Equipment originally cost $30,000, and it was fully depreciated [no salvage value] at the date
In 2022, Copeland Co. sold Equipment for $9,200. The Equipment originally cost $30,000, and it was fully depreciated [no salvage value] at the date of sale. To record the collection of proceeds from the sale, the company debited Cash and credited the Equipment account for $9,200. In December 2022, the journal entry to correct this current year error would include... O a. a debit to Accumulated Depreciation $20,800 Ob. a credit to Equipment $20,800 Oc. a credit to Accumulated Depreciation $9,200 Od. a debit to Loss on Sale $9,200 Oe. a credit to Equipment $30,000
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