On January 1,2015,WAX-D purchased equipment for $60,000 cash,expecting it to remain in service for six years.The corporation depreciates the equipment on a straight-line basis,with $2,000 residual value.On April 30,2017,the corporation sold the equipment for $48,000 cash.Record both depreciation expense for 2017 and sale of the equipment on April 30,2017.(Do not round your intermediate calculations.)

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The Answer of On January 1,2015,WAX-D purchased equipment for $60,000 cash,expecting it to remain in service for six years.The corporation depreciates the equipment on a straight-line basis,with $2,000 residual value.On April 30,2017,the corporation sold the equipment for $48,000 cash.Record both depreciation expense for 2017 and sale of the equipment on April 30,2017.(Do not round your intermediate calculations.)

On January 1,2015,WAX-D Purchased Equipment for $60,000 Cash,expecting It to Remain