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QS 8-12 (Algo) Disposal of assets LO P2 Garcia Company owns equipment that cost $83,600, with accumulated depreciation of $44,200. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $52,100 cash, (2) $39,400 cash, and (3) $34,300 cash. View transaction list

QS 8-12 (Algo) Disposal of assets LO P2 Garcia Company owns equipment that cost $83,600, with accumulated depreciation of $44,200. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $52,100 cash, (2) $39,400 cash, and (3) $34,300 cash. View transaction list

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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Solve A,B,&C journal entries please and thank you 

**Disposal of Assets: Educational Exercise** Garcia Company owns equipment that originally cost $83,600, with accumulated depreciation of $44,200. **Task:** Record the sale of the equipment under three separate scenarios where Garcia sells the equipment for: 1. $52,100 cash 2. $39,400 cash 3. $34,300 cash **Journal Entry Worksheet:** - **Instruction:** Record the sale of equipment assuming Garcia sells the equipment for $52,100 cash. **Journal Entry Table:** - **Columns:** Transaction, General Journal, Debit, Credit - **Entry Spaces:** Blank spaces to enter debits and credits for each transaction. **Note:** Enter debits before credits. **Buttons:** - **Record entry** - **Clear entry** - **View general journal**
Transcribed Image Text:**Disposal of Assets: Educational Exercise** Garcia Company owns equipment that originally cost $83,600, with accumulated depreciation of $44,200. **Task:** Record the sale of the equipment under three separate scenarios where Garcia sells the equipment for: 1. $52,100 cash 2. $39,400 cash 3. $34,300 cash **Journal Entry Worksheet:** - **Instruction:** Record the sale of equipment assuming Garcia sells the equipment for $52,100 cash. **Journal Entry Table:** - **Columns:** Transaction, General Journal, Debit, Credit - **Entry Spaces:** Blank spaces to enter debits and credits for each transaction. **Note:** Enter debits before credits. **Buttons:** - **Record entry** - **Clear entry** - **View general journal**
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