QS 8-9 Disposal of assets LO P2 Garcia Co. owns equipment that cost $80,000, with accumulated depreciation of $42,400. Garcia sells the equipment for cash. Record the sale of the equipment assuming Garcia sells the equipment for (1) $49,400 cash, (2) $37,600 cash, and (3) $32,500 cash. View transaction list Journal entry worksheet 2 3 Record the sale of equipment assuming Garcia sells the equipment for $49,400 cash Note: Enter debits before credits Debit Transaction General Journal Credit Record entry Clear entry View general journal