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Question 6 Equipment costing $20,000 with $17,800 of accumulated depreciation is sold for $2,500 cash. The...

Question 6 Equipment costing $20,000 with $17,800 of accumulated depreciation is sold for $2,500 cash. The journal entry will involve a debit to accumulated depreciation for $2,200. debit to depreciation expense for $17,800. credit to accumulated depreciation for $17,800. credit to depreciation expense for $17,800. debit to accumulated depreciation for $17,800.

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Answer #1

Solution:

The option ,'d, debit to accumulated depreciation for $17,800 is correct option.

Explanation:

Journal entry

No. General journal Debit Credit
1. Cash $2,500
Accumulated depreciation $17,800
Equipment $20,000
Gain on sale $300
( To record the sale of equipment)
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