Question: need help with the ones I got wrong Your answer is partially correct. Martinez Company has an old factory machine that cost $ 66,000. The

 need help with the ones I got wrong Your answer is

need help with the ones I got wrong

Your answer is partially correct. Martinez Company has an old factory machine that cost $ 66,000. The machine has accumulated depreciation of $36,960. Martinez has decided to sell the machine. (a) Prepare a tabular summary to record the sale of the machine for $ 33,000 cash. (b) Prepare a tabular summary to record the sale of the machine for $ 19,800 cash. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) (a) Assets Liabilities Cash Equipment Accum. Depr. - Equip. Cc Bal. $ 33000 $ $ -36960 $ 33000 -66000 (b) Assets Liabilities + Cash Equipment Accum. Depr.- Equip. Bal. $ i $ 66000 $ -36960 19800 -66000 36960

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