A company destroys a desk that originally cost $2,000, and has been fully depreciated. Identify the correct entry below: Debit Profit/Loss on Disposal of Fixed Assets, $2,000; Credit Equipment, $2,000 Debit Profit/Loss on Disposal of Fixed Assets, $2,000; Credit Accumulated Depreciation, $2,000 Debit Accumulated Depreciation, $2,000; Credit Equipment, $2,000 No entry required as the desk is fully depreciated

Answer rating: 100% (QA)

The correct entry for the disposal of a fully depreciated desk is Debit Pr... View the full answer