Question: 4.2 Accounting for Asset Disposal Points: 8 items @ 2 pts. Each = 16 pts. Directions: Prepare the journal entry based on the information below.

4.2 Accounting for Asset Disposal Points: 8 items @ 2 pts. Each = 16 pts. Directions: Prepare the journal entry based on the information below. Background Information: Donald sold equipment for $7,500 which cost $9,500 The equipment has accumulated depreciation of $5,500 15-Dec Cash Accumulated Depreciation Equipment Gain Helpful Information Asset Disposal Asset Disposal Article 2

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