QS 10-9 Disposal of assets LO P2 Garcia Co. owns equipment that cost $84,800, with accumulated depreciation of $44,800. Garcia sells the equipment for cash. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $53,000 cash, (2) $40,000 cash, and (3) $34,900 cash. View transaction list Journal entry worksheet