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Home Q & A Board Other Fields Homework Help Business Accounting
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harra harra
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6 years ago
Global Enterprises Inc. sold some fully amortized equipment for $2,700 cash. The equipment had been purchased for $26,500 and Global had an estimated useful life at eight years and residual value at $3,500. The journal entry to record the sale of the equipment is:
A)
Cash   2,700   
          Equipment      2,700

B)
Cash   2,700   
Accum. Amort.-Equipment         23,000   
Loss on Sale of Equipment    800   
          Equipment      26,500

C)
Cash   2,700   
Loss on Sale of Equipment    800   
          Equipment      3,500

D)
Cash   2,700   
Accum. Amort.-Equipment         23,800   
          Equipment      26,500
Textbook 
Accounting, Volume 1, Canadian Edition

Accounting, Volume 1, Canadian Edition


Edition: 9th
Authors:
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HanoiHanoi
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#1
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6 years ago
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