Garcia Co. owns equipment that cost $77,200, with accumulated depreciation of $41,000.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 listJournal entry worksheetAB C>Record the sale of equipment assuming Garcia sells the equipment for $47,300cash.Note: Enter debits before credits.TransactionGeneral JournalDebitCredit1

Cost of Equipment 77,200 Less: Accumulated Depreciation 41,000…

Garcia Co. owns equipment that cost $77,200, with accumulated depreciation of $41,000. 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.

Garcia Co. owns equipment that cost $77,200, with accumulated depreciation of $41,000. 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.

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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Question

Garcia Co. owns equipment that cost $77,200, with accumulated depreciation of $41,000.
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
A
B C
>
Record the sale of equipment assuming Garcia sells the equipment for $47,300
cash.
Note: Enter debits before credits.
Transaction
General Journal
Debit
Credit
1

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