Hot Stone Creamery sold ice cream equipment for $17,600. Hot Stone originally purchased the equipment for $94,000, and depreciation through the date of sale totaled $73,000. Record the gain or loss on the sale of the equipment. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" In the first account fleld.) No 1 Transaction 1 Cash Accumulated Depreciation Loss Equipment Answer is not complete. General Journal Debit 17,600 73,000 Credit 94,000

Hot Stone Creamery sold ice cream equipment for $17,600. Hot Stone originally purchased the equipment for $94,000, and depreciation through the date of sale totaled $73,000. Record the gain or loss on the sale of the equipment. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" In the first account fleld.) No 1 Transaction 1 Cash Accumulated Depreciation Loss Equipment Answer is not complete. General Journal Debit 17,600 73,000 Credit 94,000

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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