On July 1, 2014, Carla Vista Enterprises sold equipment with an original cost of $101,100 for $39,700. The equipment was purchased January 1, 2011, and was depreciated using the straight-line method over a five-year useful life with a $11,000 salvage value. Prepare the journal entry to record the sale of the equipment. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Cash Accumulated Depreciation-Equipment Gain on Disposal of Plant Assets Equipment Debit 39,700 T Credit 100

On July 1, 2014, Carla Vista Enterprises sold equipment with an original cost of $101,100 for $39,700. The equipment was purchased January 1,2011, and was depreciated using the straight-line method over a five-year useful life with a $11,000 salvage value. Prepare the journal entry to record the sile of the equipment. (Credit account titles are automatically indenteg when amount is entered. Do not indent monually.)