Karley Company sold equipment on July 1 2017 for $75000. The equipment had cost $210000 and had $120000 of accumulated depreciation as of January 1 2017. Depreciation for the first 6 months of 2017 was $12000.
Instructions
Prepare the journal entry to record the sale of the equipment.

Question

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The Answer of Karley Company sold equipment on July 1 2017 for $75000. The equipment had cost $210000 and had $120000 of accumulated depreciation as of January 1 2017. Depreciation for the first 6 months of 2017 was $12000.
Instructions
Prepare the journal entry to record the sale of the equipment.

Karley Company Sold Equipment on July 1 2017 for $75000