On September 30,2016,Sternberg Company sold office equipment for $12,000.The equipment was purchased on March 31,2013,for $24,000.The asset was being depreciated over a five-year life using the straight-line method,with depreciation based on months in service.No residual value was anticipated.
Required:
Prepare the journal entries to record 2016 depreciation and the sale of the equipment.

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The Answer of On September 30,2016,Sternberg Company sold office equipment for $12,000.The equipment was purchased on March 31,2013,for $24,000.The asset was being depreciated over a five-year life using the straight-line method,with depreciation based on months in service.No residual value was anticipated.
Required:
Prepare the journal entries to record 2016 depreciation and the sale of the equipment.

On September 30,2016,Sternberg Company Sold Office Equipment for $12,000