QUESTION 13 On 1/1/2010, a property, plant and equipment (PPE) item was purchased at $50,000 with a weful life of 10 years and no residual value. Journal entry for depreciation is made at the end of every three months On 2/28/2015, the PPE item is resold for $10,000 cash Record this sale Dr. Cash 10,000 Cr. PPE 10,000 O Dr. Cash 10,000 Dr. AD 25,000 Dr Loss on sale 15,000 Cr. PPE 50,000 Dr. Depreciation expense 833.33 CE AD 833.33 Dr. Cash 10,000 Dr. AD 25,833.33 Dr. Loss on sale 14 166.67 Ct PPE 50.000 O Dr. Cash 10.000 Dr. AD 25.000 CL PPE 35,000