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The following selected information is from Ellerby Company's comparative balance sheets. At December 31 2017 016 $132,000 184,500 Accumulated depreciation-Furniture (88,700) (110,700) Furniture The income

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The following selected information is from Ellerby Company's comparative balance sheets. At December 31 2017 016 $132,000 184,500 Accumulated depreciation-Furniture (88,700) (110,700) Furniture The income statement reports depreciation expense for the year of $18,000. Also, furniture costing $52,500 was sold for its book value on December 31, 2017 Complete the general ledger accounts to calculate the cash received from the sale of furniture. Furniture Beg. bal. Sale of assets End. bal Accumulated Depreciation Beg. bal Sale of assets 2017 depreciation End. bal. Cost Accumulated depreciation Book value (Cash received)

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