est 3-Online Spring, 2018 6 Saved Help Garcia Co. owns equipment that cost $81,6

Question

est 3-Online Spring, 2018 6 Saved Help Garcia Co. owns equipment that cost $81,600, with accumulated 15 depreciation of $43,200. Garcia sells the equipment for cash. Record the sale of the equipment under the S3e 4oo cash land collowing three separate cases assuming CGarcia sells the equipment for 50 600 ca separate cases assuming Garcia sells the 02-24:24 View transaction list Journal entry worksheet Record the sale of equipment assuming Garcia sells the equipment for $50,600 cash. Note: Enter debits before credits Transaction General Journal Debit Credit

Explanation / Answer

Transaction General Journal Debit Credit 1 Cash $50,600 Accumulated depreciation $43,200 Equipment $81,600 Gain on sale of equipment $12,200 2 Cash $38,400 Accumulated depreciation $43,200 Equipment $81,600 3 Cash $33,300 Accumulated depreciation $43,200 Loss on sale of equipment $5,100 Equipment $81,600

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