Exercise 12-6 Your answer is partially correct. Try again The following three accounts appear in the general ledger of Pearl Industries during 2017. Equipment Debit Date Jan. 1 July 31 Sept. 2 Nov 10 Balance Purchase of equipment Cost of equipment constructed Cost of equipment sold Credit Balance 391,680 563,040 692,784 119,952 572,832 171,360 129,744 Accumulated Depreciation-Equipment Debit Date Jan. 1 Nov 10 Dec. 31 Balance Accumulated depreciation on equipment sold Depreciation for year Credit Balance 173,808 134,640 68,544 203,184 39,168 Retained Earnings Debit Date Jan. 1 Aug 23 Dec. 31 Balance Dividends (cash) Net income Credit Balance 257,040 222,768 176,256 399,024 34,272