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Garcia Company owns equipment that cost $76,800, with accumulated depreciation of $40,800. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $47,000 cash, (2) $36,000 cash, and (3) $31,000 cash. View transaction list Journal entry worksheet < A B C Record the sale of equipment assuming Garcia sells the equipment for $47,000 cash. Note: Enter debits before credits. Transaction 1 Record entry General Journal Clear entry Debit Credit View general journal > 4

Garcia Company owns equipment that cost $76,800, with accumulated depreciation of $40,800. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $47,000 cash, (2) $36,000 cash, and (3) $31,000 cash. View transaction list Journal entry worksheet < A B C Record the sale of equipment assuming Garcia sells the equipment for $47,000 cash. Note: Enter debits before credits. Transaction 1 Record entry General Journal Clear entry Debit Credit View general journal > 4

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please help to record the sale of equipment.
Garcia Company owns equipment that cost $76,800, with accumulated depreciation of $40,800. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $47,000 cash, (2) $36,000 cash, and (3) $31,000 cash. View transaction list Journal entry worksheet < A B Record the sale of equipment assuming Garcia sells the equipment for $47,000 cash. Transaction 1 C Note: Enter debits before credits. Record entry General Journal Clear entry Debit Credit View general journal 4
Transcribed Image Text:Garcia Company owns equipment that cost $76,800, with accumulated depreciation of $40,800. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $47,000 cash, (2) $36,000 cash, and (3) $31,000 cash. View transaction list Journal entry worksheet < A B Record the sale of equipment assuming Garcia sells the equipment for $47,000 cash. Transaction 1 C Note: Enter debits before credits. Record entry General Journal Clear entry Debit Credit View general journal 4
Garcia Company owns equipment that cost $76,800, with accumulated depreciation of $40,800. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $47,000 ca (2) $36,000 cash, and (3) $31,000 cash. View transaction list Journal entry worksheet < A B C Record the sale of equipment assuming Garcia sells the equipment for $36,000 cash. Note: Enter debits before credits. Transaction 2 Record entry General Journal Clear entry Debit Credit View general journal W
Transcribed Image Text:Garcia Company owns equipment that cost $76,800, with accumulated depreciation of $40,800. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $47,000 ca (2) $36,000 cash, and (3) $31,000 cash. View transaction list Journal entry worksheet < A B C Record the sale of equipment assuming Garcia sells the equipment for $36,000 cash. Note: Enter debits before credits. Transaction 2 Record entry General Journal Clear entry Debit Credit View general journal W
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