Question: Gunkelson Company sells equipment on September 30 2014 for 18 000

Gunkelson Company sells equipment on September 30, 2014, for $18,000 cash. The equipment originally cost $72,000 and as of January 1, 2014, had accumulated depreciation of $42,000. Depreciation for the first 9 months of 2014 is $5,250. Prepare the journal entries to
(a) Update depreciation to September 30, 2014,
(b) Record the sale of the equipment.


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  • CreatedJanuary 30, 2014
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