question 7

Take me to the text On December 31, 2020 a company had the following information reported in their balance sheet: Equipment worth $440,000 and related Accumulated Depreciation of $342,000. The equipment was donated to a charity. The equipment was valued at its current net book value. Required Prepare the journal entry to record the donation. Do not enter dollar signs or commas in the input boxes. Enter all debit accounts in alphabetical order. Date Account Title and Explanation Debit Credit Dec 31 ( To dispose of equipment by donation Check