The following selected information is from Ellerby Company's comparative balance sheets At December 31 Furniture Accumulated depreciation-Furniture 2015 2014 $ 151,500 $ 210,500 (95,200) (117,200) The income statement reports depreciation expense for the year of $24,500. Also, furniture costing $59,000 was sold for its book value on December 31, 2015. Complete the general ledger accounts to calculate the cash received from the sale of furniture. Furniture Accumulated Depreciation Beg. bal 210,500 59,000 Beg. bal Sale of assets End. bal 151,500 End. bal 59,000 Cost Accumulated depreciation Book value (Cash received $ 58,000 58,000