QS 8-12 (Algo) Disposal of assets LO P2 Garcia Company owns equipment that cost $78,800, with accumulated depreciation of $41,800. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $48,500 cash, (2) $37,000 cash, and (3) $31,900 cash. View transaction list Journal entry worksheet < A B C Record the sale of equipment assuming Garcia sells the equipment for $48,500 cash. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal