QS 12-7 Computing cash from asset sales LO P3 The following selected information is from Ellerby Company's comparative balance sheets. At December 31 2017 2016 Furniture $139, see $ 194,500 Accumulated depreciation-Furniture (91,200) (113,289) The income statement reports depreciation expense for the year of $20.500. Also, furniture costing $55.000 was sold for its book value on December 31, 2017. Complete the general ledger accounts to calculate the cash received from the sale of furniture. Furniture Beg. bal. Sale of assets End, bal Accumulated Depreciation Beg. bal. Sale of assets 2017 depreciation End. bal. 0 Cost Accumulated depreciation Book value (Cash received) S 0