Barnhart's sold a piece of restaurant equipment to another restaurant on July 1,2013 for $1,100 cash.The equipment originally cost $12,000,had an estimated life of 20 years,and an estimated salvage value of $2,000.Barnhart's had recorded total depreciation of $9,000 through the end of 2012,using the straight-line method.Barnhart's had to update the depreciation of the asset before recording the sale.After the depreciation was updated,Barnhart's then recorded the sale transaction.Please provide the entry for the sale transaction.
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Question

Barnhart's sold a piece of restaurant equipment to another restaurant on July 1,2013 for $1,100 cash.The equipment originally cost $12,000,had an estimated life of 20 years,and an estimated salvage value of $2,000.Barnhart's had recorded total depreciation of $9,000 through the end of 2012,using the straight-line method.Barnhart's had to update the depreciation of the asset before recording the sale.After the depreciation was updated,Barnhart's then recorded the sale transaction.Please provide the entry for the sale transaction.
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Quizplus · Accepted Answer

The Answer of Barnhart's sold a piece of restaurant equipment to another restaurant on July 1,2013 for $1,100 cash.The equipment originally cost $12,000,had an estimated life of 20 years,and an estimated salvage value of $2,000.Barnhart's had recorded total depreciation of $9,000 through the end of 2012,using the straight-line method.Barnhart's had to update the depreciation of the asset before recording the sale.After the depreciation was updated,Barnhart's then recorded the sale transaction.Please provide the entry for the sale transaction.
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Barnhart's Sold a Piece of Restaurant Equipment to Another Restaurant $\begin{array} { | l | l | l | } \hline \quad\quad& \quad&\quad \\\hline & & \\\hline & & \\\hline & & \\\hline\end{array}$