QS 12-8 (Algo) Computing cash from asset sales LO P3 The following information is from Ellerby Company's comparative balance sheets. At December 31 Furniture Accumulated depreciation-Furniture Current Year $ 153,000 (95,700) Prior Year $ 212,500 (117,700) The current year income statement reports depreciation expense on furniture of $25,000. During the year, furniture costing $59,500 was sold for its book value on December 31, Current Year. Complete the general ledger accounts to calculate cash received from the sale of furniture. Beginning balance Current year depreciation Answer is not complete. Furniture 212,500 (59,500) Ending Balance 153,000 Beginning balance Accumulated Depreciation Current year depreciation 117,700 25,000 Current year depreciation Ending Balance (47,000) 95,700