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Fireworks City Information for 2012 and 2011 Is Presented Below

question 49

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Fireworks City Information for 2012 and 2011 is presented below for this company which uses the straight-line depreciation method.
 Property, plant and equipment  Accumulated depreciation Depreciation expense Net sales  Total assets 20122011$750,000$190,000100,00085,00062,50047,5001,000,000900,000625,000475,000\begin{array}{l}\begin{array}{lll}\\\text { Property, plant and equipment }\\\text { Accumulated depreciation }\\\text {Depreciation expense }\\\text {Net sales }\\\text { Total assets }\\\end{array}\begin{array}{lll} \underline{ 2012 }& \underline{ 2011 } \\ { \$750,000 } & { \$ 190,000 } \\100,000 & 85,000 \\ 62,500 & 47,500 \\ 1,000,000 & 900,000 \\ 625,000 & 475,000\end{array}\end{array}
-Refer to Fireworks City.During the year,the company sold some equipment that had an original cost of $60,000.Which statement is true concerning transactions that must have occurred during the period?

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