Equipment with a cost of $15 000 and accumulated depreciation of $12 500 was sold for $1 700. The journal entry to record the disposal would include:
A) CR Cash, $1 700.
B) CR Loss on sale, $800.
C) DR Accumulated depreciation, $12 500.
D) CR Equity, $15 000.

Question

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The Answer of Equipment with a cost of $15 000 and accumulated depreciation of $12 500 was sold for $1 700. The journal entry to record the disposal would include:
A) CR Cash, $1 700.
B) CR Loss on sale, $800.
C) DR Accumulated depreciation, $12 500.
D) CR Equity, $15 000.

Equipment with a Cost of $15 000 and Accumulated Depreciation