Knowledge Check

The equipment and the accumulated depreciation accounts began the year with balances of $$60,000$ and $$18,700,$ respectively. During the year, $$23,500$ of equipment was budgeted for purchase for cash, equipment costing $$6,100$ with accumulated depreciation of $$4,500$ was expected to be sold for $$2,000,$ and budgeted depreciation expense was $$3,000.$ How much is reported on the budgeted balance sheet for equipment and accumulated depreciation?

Equipment

$

Accumulated depreciation

$