Global Enterprises Inc $\begin{array} { | c | r | r | } \hline \text { Cash } & 2,700 & \\\hline \text { Equipment } & & 2,700 \\\hline\end{array}$

question 32

Multiple Choice

Global Enterprises Inc. sold some fully amortized equipment for $2,700 cash. The equipment had been purchased for $26,500 and Global had an estimated useful life at eight years and residual value at $3,500. The journal entry to record the sale of the equipment is:

• A) \(\begin{array} { | c | r | r | }
• \hline \text { Cash } & 2,700 & \\
• \hline \text { Equipment } & & 2,700 \\
• \hline
• \end{array}\)
• B) \(\begin{array} { | l | r | r | }
• \hline \text { Cash } & 2,700 & \\
• \hline \text { Accum. Amort.-Equipment } & 23,000 & \\
• \hline \text { Loss on Sale of Equipment } & 800 & \\
• \hline \text { Equipment } & & 26,500 \\
• \hline
• \end{array}\)
• C) \(\begin{array} { | c | r | r | }
• \hline \text { Cash } & 2,700 & \\
• \hline \text { Loss on Sale of Equipment } & 800 & \\
• \hline \text { Equipment } & & 3,500 \\
• \hline
• \end{array}\)
• D) \(\begin{array} { | c | r | r | }
• \hline \text { Cash } & 2,700 & \\
• \hline \text { Accum. Amort.-Equipment } & 23,800 & \\
• \hline \text { Equipment } & & 26,500 \\
• \hline
• \end{array}\)

---

Definitions:

Hypertensive Retinopathy

A condition characterized by damage to the retina of the eye due to high blood pressure, leading to blurred vision or vision loss.

Proliferative Retinopathy

A condition involving the growth of new, abnormal blood vessels in the retina, often related to diabetes.

Bullous Keratopathy

A condition characterized by swelling and blisters on the cornea, leading to vision impairment.

Diabetic Retinopathy

An eye condition that occurs in patients with diabetes, caused by damage to the small blood vessels of the retina, leading to vision problems.