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Prepare the journal entries to update depreciation

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Reference no: EM131783898

Gunkelson Company sells equipment on September 30, 2017, for $18,000 cash. The equipment originally cost $72,000 and as of January 1, 2017, had accumulated depre- ciation of $42,000. Depreciation for the ?rst 9 months of 2017 is $5,250. Prepare the journal entries to (a) update depreciation to September 30, 2017, and (b) record the sale of the equipment

Reference no: EM131783898

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