Wildhorse Company has delivery equipment that cost $$56,100$ and has been depreciated $$23,100.$

Prepare a tabular summary to record the disposal under the following assumptions.

$($a$)$

$$ Your answer is correct.

It was scrapped as having no value.

Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses.

Increases in expenses and losses require a negative sign or parentheses.

Increases in Accumulated Depreciation require a negative sign or parentheses.

Decreases in Accumulated Depreciation are entered as postive amounts.