Ch 16: Problem Solving i Saved Help Save & Exit 4 Check my QS 16-8 (Algo) Computing cash from asset sales LO P3 0.18 points The following information is from Ellerby Company's comparative balance sheets. At December 31 Current Year Prior Year Furniture $ 151, 500 $ 210,500 Accumulated depreciation-Furniture (95, 200) Book (117, 200) The current year income statement reports depreciation expense on furniture of $24,500. During the year, furniture costing $59,000 was sold for its book value on December 31, Current Year. Hint Complete the general ledger accounts to calculate cash received from the sale of furniture. Print Furniture Beginning balance Sale of assets References Ending Balance Accumulated Depreciation Beginning balance Sale of assets Ending Balance Cost Accumulated depreciation Book value (Cash received) Mc Hill R W E F S D A