Garcia Co. owns equipment that costs $78,300, with accumulated depreciation of $42,800. 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. $35,500 cash C. $28,000 cash If an amount box does not require an entry, leave it blank. A.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Garcia Co. owns equipment that costs $78,300, with accumulated depreciation of $42,800. 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. $35,500 cash
C. $28,000 cash
If an amount box does not require an entry, leave it blank.
А.
III III IIII
B.
C.
Transcribed Image Text:Garcia Co. owns equipment that costs $78,300, with accumulated depreciation of $42,800. 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. $35,500 cash C. $28,000 cash If an amount box does not require an entry, leave it blank. А. III III IIII B. C.
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