Chapter 12, Problem 12QS

To determine

Accumulated Depreciation:

Accumulated depreciation is the total depreciation over the noncurrent assets to the depreciation expense. Accumulated depreciation is the assets account with credit balance. It is shown in the balance sheet of the company. Accumulated depreciation increases over the period of time. Accumulated depreciation cannot be charged more than asset cost. It is also known as contra assets account.

To compute: Cash received from sale of furniture.