Bock Corporation sold equipment costing $30,000 with $28,000 of accumulated depreciation for $5,000 cash. Bock's journal entry to record this sale will involve a:

Question

Quizplus · Accepted Answer

B) The correct journal entry to record the sale of equipment involves debiting Accumulated Depreciation for $28,000 to remove the accumulated depreciation associated with the equipment being sold. This entry reflects the elimination of the equipment's accumulated depreciation from the books.

Bock Corporation Sold Equipment Costing $30,000 with $28,000 of Accumulated