Equipment with a cost of $15 000 and accumulated depreciation of $12 500 was sold for $1700.The journal entry to record the disposal would include:
A) Cr Cash,$1700.
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 $1700.The journal entry to record the disposal would include:
A) Cr Cash,$1700.
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