Record the sale of the equipment

Reference no: EM131829033

Question: Antone Company sells office equipment on July 31, 2017, for $21,000 cash. The office equipment originally cost $72,000 and as of January 1, 2017, had accumulated depreciation of $42,000. Depreciation for the first 7 months of 2017 is $4,600. Prepare the journal entries to

(a) update depreciation to July 31, 2017, and

(b) record the sale of the equipment.

Reference no: EM131829033

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