Karley Company sold equipment on July 1, 2018 for $75,000. The equipment had cost $210,000 and had $120,000 of accumulated depreciation as of January 1, 2018. Depreciation for the first 6 months of 2015 was $12,000.
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, 2018 for $75,000. The equipment had cost $210,000 and had $120,000 of accumulated depreciation as of January 1, 2018. Depreciation for the first 6 months of 2015 was $12,000.
Instructions
Prepare the journal entry to record the sale of the equipment.

Karley Company Sold Equipment on July 1, 2018 for $75,000