Monty Company has an old factory machine that cost $56,250. The machine has accumulated depreciation of $31,500. Monty has decided to sell the machine. (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.)

(a) What entry would Monty make to record the sale of the machine for $28,125 cash?

(b) What entry would Monty make to record the sale of the machine for $16,875 cash?

No.

Account Titles and Explanation

Debit

Credit

(a)

Enter an account title to record the transaction a

enter a debit amount

enter a credit amount

Enter an account title to record the transaction a

enter a debit amount

enter a credit amount

Enter an account title to record the transaction a

enter a debit amount

enter a credit amount

Enter an account title to record the transaction a

enter a debit amount

enter a credit amount

(b)

Enter an account title to record the transaction b

enter a debit amount

enter a credit amount

Enter an account title to record the transaction b

enter a debit amount

enter a credit amount

Enter an account title to record the transaction b

enter a debit amount

enter a credit amount

Enter an account title to record the transaction b