FULL SCREEN PRINTER VERSION BACK NEX Question 16 Crane Company owns equipment that cost $51,000 when purchased on January 2, 2021. It has been depreciated using the straight-line method based on estimated residual value of $3,000 and an estimated useful life of five years. Following are the four Independent situations (a) Your answer is correct. Prepare Crane Company's journal entry to record the sale of the equipment for $25,100 on January 2, 2024. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. The entry is required, select "No Entry for the account title and enter for the amounts.) Date Account Titles and Explanation Debit Credit a. Cash 25100 Accumulated Depreciation 28800 Equipment 51000 2900 Gain on Disposal (To record disposal of equipment.) SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEKT Prepare Crane Company's journal entry to record the sale of the equipment for $25,100 on May 1, 2024. (Credit account titles are automatically indented when the amount is entered not indent manually. If no entry is required, select "No Entry for the account cities and enter for the amounts.) Date Account Titles and Explanation Debit Credit May 1 Cash 25100 Accumulated Depreciation Gain on Disposal Equipment (To record disposal of equipment.) SHOW LIST OF ACCOUNTS LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor