Equipment with a cost of $15 000 and accumulated depreciation of $12 500 was sold for $1700.The journal entry to record the disposal would include:

Name: Equipment with a cost of $15 000 and accumulated depreciation of $12 500 was sold for $1700.The journal entry to record the disposal would include:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The journal entry to record the disposal would include debiting Accumulated Depreciation for $12,500 to remove it from the books, as it is no longer associated with the sold equipment.

Equipment with a Cost of $15 000 and Accumulated Depreciation