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Question 2 2(working and calculations) +3 (journal entry)= 5 Marks Sweet Company purchased equipment on January 1, 2018, for $28,000. Suppose Sweet Company sold the

Question 2 2(working and calculations) +3 (journal entry)=5 Marks

Sweet Company purchased equipment on January 1, 2018, for $28,000. Suppose Sweet Company sold the equipment for $4,000 on December 31, 2019. Accumulated Depreciation as of December 31, 2019, was $11,000. Journalize the sale of the equipment, assuming straight-line depreciation was used.

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