During the period, English Company sold some excess equipment at a loss. The following information was collected from the company's accounting records:

No new equipment was bought during the period.
Required:
For the equipment that was sold, determine its original cost, its accumulated depreciation, and the cash received from the sale.

Transcribed Image Text:

From the Income Statement Depreciation expense Loss on sale of equipment $ 700 3.000 From the Balance Sheet Beginning equipment 12.500 Ending equipment 8.000 Beginning accumulated depreciation 2.000 Ending accumulated depreciation 2,400