Steinway Realty LLC, sells a building with original cost of $2,000,000 and adjusted basis

of $1,000,000. Selling price $4,000,000. At closing, the realty paid $100,000 selling expenses.

Present the adjusting entry to record sale.

__________________________ __________

__________________________ __________

Accumulated depreciation. __________

__________________________ __________

__________________________ __________

10. Steinway Realty LLC, sells a building with original cost of $2,000,000 and adjusted basis of $1,000,000. Selling price $4,000,000. At closing, the realty paid $100,000 selling expenses. Present the adjusting entry to record sale