Equipment is sold for $1 000. The original cost was $9 000, residual value was estimated at $200, and useful life was estimated at 12 years. At time of sale, accumulated depreciation was $8 500. The sale resulted in a loss of $500.

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The Answer of Equipment is sold for $1 000. The original cost was $9 000, residual value was estimated at $200, and useful life was estimated at 12 years. At time of sale, accumulated depreciation was $8 500. The sale resulted in a loss of $500.

Equipment Is Sold for $1 000