Garcia Co. 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 listJournal entry worksheetB C>Record the sale of equipment assuming Garcia sells the equipment for $47,000cash.Note: Enter debits before credits.TransactionGeneral JournalDebitCredit1< Prev10 of 12Next >9:04 AM3/28/2022FnLockInsertPrt ScF5F6F10F11F12F8F9F4

Solution:- Preparation of journal entries three different cases as follows under:-

Answered: Record the sale of the equipment under…

Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment för (1) $4,000 čash, (2) $36,000 cash, and (3) $31,000 cash.

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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