On January 1,2016,WAX-D purchased equipment for $60,000 cash,expecting it to remain in service for six years.The equipment is depreciated using the straight-line method with $2,000 estimated residual value.On April 30,2018,the equipment was sold for $48,000 cash.Record depreciation expense for 2018 and the sale of the equipment on April 30,2018.(Do not round your intermediate calculations. )

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The Answer of On January 1,2016,WAX-D purchased equipment for $60,000 cash,expecting it to remain in service for six years.The equipment is depreciated using the straight-line method with $2,000 estimated residual value.On April 30,2018,the equipment was sold for $48,000 cash.Record depreciation expense for 2018 and the sale of the equipment on April 30,2018.(Do not round your intermediate calculations. )

On January 1,2016,WAX-D Purchased Equipment for $60,000 Cash,expecting It to Remain