Bennett Corporation sold a piece of equipment on June 30,2019,for $50,000 cash.The equipment had been purchased on January 1,2015,for $150,000.The equipment had an estimated useful life of 6 years and a $30,000 residual value.Bennett Corp.has been using the straight-line method of depreciation and has a year-end of December 31st.
Prepare any necessary journal entries on June 30,2019,assuming that 2019 depreciation expense has not been recorded.

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The Answer of Bennett Corporation sold a piece of equipment on June 30,2019,for $50,000 cash.The equipment had been purchased on January 1,2015,for $150,000.The equipment had an estimated useful life of 6 years and a $30,000 residual value.Bennett Corp.has been using the straight-line method of depreciation and has a year-end of December 31st.
Prepare any necessary journal entries on June 30,2019,assuming that 2019 depreciation expense has not been recorded.

Bennett Corporation Sold a Piece of Equipment on June 30,2019,for