The following information is from Ellerby Companys comparative balance sheets.

At December 31	Current Year				Prior Year
Furniture	$	142,500			$	198,500
Accumulated depreciationFurniture		(92,200	)			(114,200	)

The current year income statement reports depreciation expense on furniture of $21,500. During the year, furniture costing $56,000 was sold for its book value on December 31, Current Year. Complete the general ledger accounts to calculate cash received from the sale of furniture.

The following information is from Ellerby Company's comparative balance sheets. At December 31 Furniture Accumulated depreciation-Furniture Current Year $142,500 (92,200) Prior Year $ 198,500 (114, 200) Furniture Beg. bal. End, bal. 0 Accumulated Depreciation Beg. bal. End, bal. 0 Cost Accumulated depreciation Book value (Cash received) $ 0