Garcia Co. owns equipment that costs $78,300, with accumulated depreciation of $42,800. Garcia sells the equipment for cash. Record the journal entry for the sale of the equipment if Garcia were to sell the equipment for the following amounts:A. $47,000 cashB. $35,500 cashC. $27,000 cashIf an amount box does not require an entry, leave it blank. Garcia Co. owns equipment that costs $78,300, with accumulated depreciation of $42,800. Garcia sells the equipment for cash. Record the journal entry for the sale ofthe equipment if Garcia were to sell the equipment for the following amounts:A. $47,000 cashВ. $35,500 cashC. $27,000 cashIf an amount box does not require an entry, leave it blank.А.С.B.

Formulas: Gain/(Loss) on sale=Sale value-Cost+Accumulated depreciation

Garcia Co. owns equipment that costs $78,300, with accumulated depreciation of $42,800. Garcia sells the equipment for cash. Record the journal entry for the sale of the equipment if Garcia were to sell the equipment for the following amounts: A. $47,000 cash B. $35,500 cash C. $27,000 cash If an amount box does not require an entry, leave it blank. A. В.

Garcia Co. owns equipment that costs $78,300, with accumulated depreciation of $42,800. Garcia sells the equipment for cash. Record the journal entry for the sale of the equipment if Garcia were to sell the equipment for the following amounts: A. $47,000 cash B. $35,500 cash C. $27,000 cash If an amount box does not require an entry, leave it blank. A. В.

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 costs $78,300, with accumulated depreciation of $40,800. Garcia sells the equipment for cash. Record the journal entry for the sale of the equipment if Garcia were to sell the equipment for the following amounts: A. $47,000 cash B. $37,500 cash C. $30,000 cash If an amount box does not require an entry, leave it blank. A. fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 fill in the blank 8 fill in the blank 9 fill in the blank 11 fill in the blank 12 B. fill in the blank 14 fill in the blank 15 fill in the blank 17 fill in the blank 18 fill in the blank 20 fill in the blank 21 C. fill in the blank 23 fill in the blank 24 fill in the blank 26 fill in the blank 27 fill in the blank 29 fill in the blank 30 fill in the blank 32 fill in the blank 33
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