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Prepare the journal entry to record the sale of equipment

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Question

Karley Company sold equipment on July 1, 2021 for $75,000. The equipment had cost $210,000 and had $120,000 of accumulated depreciation as of January 1, 2021. Depreciation for the first 6 months of 2021 was $12,000.

Prepare the journal entry to record the sale of the equipment.

Reference no: EM132317015

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