Cullumber Company has equipment that cost $74,500 and that has been depreciated

Question

Cullumber Company has equipment that cost $74,500 and that has been depreciated $49,500 Record the disposal under the following assumptions. (a) (b) It was scrapped as having no value. It was sold for $19,00o. It was sold for $27,000. (c) (Credit account titles are automatically indented when a manually. If no entry is required, select "No Entry" for the account titles and enter the amounts.) mount is entered. Do not indert 0 for No. Account Titles and Explanation Debit Credit Question Attempts: ed. companies. Allrights re opyright © 2000-2017 by John Wiley & Sons, Inc. or related

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No. Account titles and explanation Debit Credit (a) Loss on Sale of Equipment $25,000 Accum. Depreciation - Equipment $49,500 Equipment $74,500 (b) Cash $19,000 Accum. Depreciation - Equipment $49,500 Loss on Sale of Equipment $6,000 Equipment $74,500 (c) Cash $27,000 Accum. Depreciation - Equipment $49,500 Equipment $74,500 Gain on Sale of Equipment $2,000

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