The following selected information is from Ellerby Company's comparative balance sheets At December 31 Furniture Accumulated depreciation- Furniture 2017 2016 $147,000 $ 204,500 (93,700) (115,700) The income statement reports depreciation expense for the year of $23,000. Also, furniture costing $57,500 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 Answer is not complete Furniture 45,000 7,500 2017 depreciation 147,000 X Cash 45,000 Beg. bal 204,500 End. bal Accumulated Depreciation 45,000 93,700 Beg. bal 115,700 23,000 End. bal 57,500 45,000 12,500 Cost ccumulated depreciation Book value (Cash received)