Question
Skysong Enterprises sold equipment on January 1, 2020 for $10,000. The equipment had cost $48,500. The balance in Accumulated Depreciation at January 1 is $40,000.
Skysong Enterprises sold equipment on January 1, 2020 for $10,000. The equipment had cost $48,500. The balance in Accumulated Depreciation at January 1 is $40,000. What entry would Skysong make to record the sale of the equipment?
Account Titles and Explanation Debit Credit
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Financial Accounting Tools For Business Decision Making
Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt
8th Edition
1119316022, 978-1119316022
