Smucker's Company sold equipment costing $65,000 with $60,000 of accumulated depreciation for $10,000 cash. The company's journal entry to record this sale will NOT include a:

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The gain on sale of equipment is recorded as a credit, not a debit. The gain is calculated as the difference between the sale price ($10,000) and the book value of the equipment ($65,000 cost - $60,000 accumulated depreciation = $5,000 book value), resulting in a $5,000 gain.

Smucker's Company Sold Equipment Costing $65,000 with $60,000 of Accumulated