Equipment with a Cost of $103,000 and Accumulated Depreciation of $82,000

question 103

Multiple Choice

Equipment with a cost of $103,000 and accumulated depreciation of $82,000 was sold for $20,000. The journal entry to record the sale would include:

• A)A debit to Cash for $21,000.
• B)A credit to Accumulated Depreciation for $82,000.
• C)A credit to Equipment for $103,000.
• D)A credit to Cash for $20,000.
• E)A debit to Loss on Disposal of Equipment for $21,000.

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