Which of the following could be a correct journal entry to record the disposition of equipment?
A. Dr. Accounts payable
$\quad $ $\quad $Cr. Accumulated depreciation
$\quad $ $\quad $Cr. Depreciation

B. Dr. Cash
Dr. Loss on sale of equipment
Dr. Accumulated depreciation
$\quad $Cr. Equipment

C. Dr. Gain on sale of equipment
Dr. Accumulated depreciation
$\quad $Cr. Equipment

D. Dr. Cash
Dr. Loss on sale of equipment
$\quad $Cr. Accumulated depreciation
$\quad $Cr. Equipment

Question

Which of the following could be a correct journal entry to record the disposition of equipment? 
A. Dr. Accounts payable
 $\quad $ $\quad $Cr. Accumulated depreciation
 $\quad $ $\quad $Cr. Depreciation

B. Dr. Cash
Dr. Loss on sale of equipment
Dr. Accumulated depreciation
 $\quad $Cr. Equipment

C. Dr. Gain on sale of equipment
Dr. Accumulated depreciation 
 $\quad $Cr. Equipment

D. Dr. Cash
Dr. Loss on sale of equipment
 $\quad $Cr. Accumulated depreciation
 $\quad $Cr. Equipment

Quizplus · Accepted Answer

When disposing of equipment, the journal entry should include debiting cash received, debiting accumulated depreciation, and crediting the equipment account. If there is a loss, it is also debited.

Which of the Following Could Be a Correct Journal Entry \quad

Which of the Following Could Be a Correct Journal Entry $\quad$