Answered

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McDowell Enterprises sold equipment on January 1, 2030 for [tex]$10,000. The
equipment had cost $[/tex]48,000. The balance in Accumulated Depreciation at
January 1 is [tex]$38,000. What entry would Bo make to record the sale of the
equipment?
(Hint: If net book value of an asset is greater than the sales price, then, it will be
loss. If the sales price is greater than the net book value of an asset, then, it will
be gain.)
Account Titles and
Explanation
[Select]
[Select]
Equipment
To record sale of equipment
General Journals
Debit ($[/tex])
Credit ($)
[Select]
38,000
[Select]

Sagot :

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