The following selected information is from Ellerby Companys comparative balance sheets.

At December 31	2017				2016
Furniture	$	142,500			$	198,500
Accumulated depreciationFurniture		(92,200	)			(114,200	)

The income statement reports depreciation expense for the year of $21,500. Also, furniture costing $56,000 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.

At December 31 Furniture Accumulated depreciation-Furniture 2017 2016 $142,500 198,500 (92,200) (114,200) The income statement reports depreciation expense for the year of $21,500. Also, furniture costing $56,000 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 End. bal Accumulated Depreciation Beg. bal End. bal. Cost Accumulated depreciation Book value (Cash received)