Garcia Co. owns equipment that costs $78,300, with accumulated depreciation of $40,800. Garcia sells the equipment for cash. Record the journal entry for the sale of the equipment if Garcia were to sell the equipment for the following amounts:A. $47,000 cashB. $37,500 cashC. $30,000 cashIf an amount box does not require an entry, leave it blank.A. fill in the blank 2fill in the blank 3 fill in the blank 5fill in the blank 6 fill in the blank 8fill in the blank 9 fill in the blank 11fill in the blank 12B. fill in the blank 14fill in the blank 15 fill in the blank 17fill in the blank 18 fill in the blank 20fill in the blank 21C. fill in the blank 23fill in the blank 24 fill in the blank 26fill in the blank 27 fill in the blank 29fill in the blank 30 fill in the blank 32fill in the blank 33 Garcia Co. owns equipment that costs $78,300, with accumulated depreciation of$40,800. Garcia sells the equipment for cash. Record the journal entry for the sale ofthe equipment if Garcia were to sell the equipment for the following amounts:A. $47,000 cashB. $37,500 cashC. $30,000 cashIf an amount box does not require an entry, leave it blank.А.С.B.

Name: Garcia Co. owns equipment that costs $78,300, with accumulated depreci
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: Garcia Co. owns equipment that costs $78,300, with accumulated depreciation of $40,800. Garcia sells the equipment for cash. Record the journal entry for the sale of the equipment if Garcia were to sell the equipment for the following amounts:A. $47,

1. Cost of Equipment= 78300 2. Accumulated Depreciation on equipment= 40800 3. Book value of…

Answered: Garcia Co. owns equipment that costs…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Concept explainers

Topic Video

Question

Garcia Co. owns equipment that costs $78,300, with accumulated depreciation of $40,800. Garcia sells the equipment for cash. Record the journal entry for the sale of the equipment if Garcia were to sell the equipment for the following amounts:

A. $47,000 cash

B. $37,500 cash

C. $30,000 cash

If an amount box does not require an entry, leave it blank.

A.	fill in the blank 2	fill in the blank 3
	fill in the blank 5	fill in the blank 6
	fill in the blank 8	fill in the blank 9
	fill in the blank 11	fill in the blank 12
B.	fill in the blank 14	fill in the blank 15
	fill in the blank 17	fill in the blank 18
	fill in the blank 20	fill in the blank 21
C.	fill in the blank 23	fill in the blank 24
	fill in the blank 26	fill in the blank 27
	fill in the blank 29	fill in the blank 30
	fill in the blank 32	fill in the blank 33

Garcia Co. owns equipment that costs $78,300, with accumulated depreciation of
$40,800. Garcia sells the equipment for cash. Record the journal entry for the sale of
the equipment if Garcia were to sell the equipment for the following amounts:
A. $47,000 cash
B. $37,500 cash
C. $30,000 cash
If an amount box does not require an entry, leave it blank.
А.
С.
B.

Expert Solution

Step by step

Solved in 4 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions