Question: Pelman Company purchased equipment on January 1 2016 for 32 000
Pelman Company purchased equipment on January 1, 2016, for $32,000. Suppose Pelman sold the equipment for $5,000 on December 31, 2017. Accumulated Depreciation as of December 31, 2017, was $22,000. Journalize the sale of the equipment, assuming straight-line depreciation was used.
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