Suppose a piece of plant equipment that PepsiCo put into service on January $1,2014$ at a total cost

of $$300,000$ with an expected useful life of $5$ years and a salvage value of $$60,000$ is sold on January

$1,2019$ for $$50,000.$ What would the journal entry look like to record this sale?

Accounts

Amounts

Cash

Property, Plant, &

$$10,000$

Accounts $-$ Row

Equipment

Accumulated

$$60,000$

$$240,000$

Depreciation

Gain$/$Loss on

Disposal of

Cost of Goods

$$264,000$

$$300,000$

Assets

Accounts $-$ Row

Sold

Date

Accounts

Debit

Credit

$01/01/19$

Cash

$$60,000$