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Garcia Co. owns equipment that cost $77,200, with accumulated depreciation of $41,000. Garcia sells the equipment for cash. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $47,300 cash, (2) $36,200 cash, and (3) $31,100 cash. View transaction list Journal entry worksheet <> 3 Record the sale of equipment assuming Garcia sells the equipment for $47,300 cash. Note: Enter debits before credits. General Journal Debit Credit Transaction

Garcia Co. owns equipment that cost $77,200, with accumulated depreciation of $41,000. Garcia sells the equipment for cash. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $47,300 cash, (2) $36,200 cash, and (3) $31,100 cash. View transaction list Journal entry worksheet <> 3 Record the sale of equipment assuming Garcia sells the equipment for $47,300 cash. Note: Enter debits before credits. General Journal Debit Credit Transaction

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 12PA: Garcia Co. owns equipment that costs $76,800, with accumulated depreciation of $40,800. Garcia sells...
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Garcia Co. owns equipment that cost $77,200, with accumulated depreciation of $41,000. Garcia sells the equipment for cash. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $47,300 cash, (2) $36,200 cash, and (3) $31,100 cash. View transaction list Journal entry worksheet <> 3 Record the sale of equipment assuming Garcia sells the equipment for $47,300 cash. Note: Enter debits before credits. General Journal Debit Credit Transaction
Transcribed Image Text:Garcia Co. owns equipment that cost $77,200, with accumulated depreciation of $41,000. Garcia sells the equipment for cash. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equipment for (1) $47,300 cash, (2) $36,200 cash, and (3) $31,100 cash. View transaction list Journal entry worksheet <> 3 Record the sale of equipment assuming Garcia sells the equipment for $47,300 cash. Note: Enter debits before credits. General Journal Debit Credit Transaction
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