Pharoah Company sells office equipment on July 31, 2022, for $23,270 cash. The office equipment originally cost $83,600 and as of January 1, 2022, had accumulated depreciation of $35,030. Depreciation for the first 7 months of 2022 is $3,920. Prepare a tabular summary to (a) update depreciation to July 31, 2022, and (b) record the sale of the equipment. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities + Cash Equipment Accum. Depr.- Equip. Bal. $ 23270 $ (a) (b) eTextbook and Media Save for Later Using multiple attempts will impact your score. 50% score reduction after attempt 2 -83600 3920 Attempts: 1 of 3 used Submit Answer Pharoah Company sells office equipment on July 31, 2022, for $23,270 cash. The office equipment originally cost $83,600 and as of January 1, 2022, had accumulated depreciation of $35,030. Depreciation for the first 7 months of 2022 is $3.920. Prepare a tabular summary to (a) update depreciation to July 31, 2022, and (b) record the sale of the equipment. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) ommon Stock eTextbook and Media Stockholders' Equity Retained Earnings Revenue Expense i 3920 Dividend i Save for Later Attempts: 1 of 3 used Submit Answer Using multiple attempts will impact your score. 50% score reduction after attempt 2 Pharoah Company sells office equipment on July 31, 2022, for $23,270 cash. The office equipment originally cost $83,600 and as of January 1, 2022, had accumulated depreciation of $35,030. Depreciation for the first 7 months of 2022 is $3,920. Prepare a tabular summary to (a) update depreciation to July 31, 2022, and (b) record the sale of the equipment. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Stockholders' Equity ue eTextbook and Media Save for Later Retained Earnings Expense 3920 Dividend i Depreciation expense Attempts: 1 of 3 used Submit