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McLean Mfg. Company sold a three-speed lathe (equipment) for $24,000 cash. The lathe cost $66,200 and had a book value of $23,200. Required: Prepare the

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McLean Mfg. Company sold a three-speed lathe (equipment) for $24,000 cash. The lathe cost $66,200 and had a book value of $23,200. Required: Prepare the journal entry to record the sale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet

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