On January 1, Year 1, Twisted Pretzel, Inc., purchased equipment for $32,000 with an estimated useful life of 8 years and $0 salvage value. On January 1, Year 5, Twisted Pretzel, sold the equipment for $14,000 cash. What is the journal entry to record the sale of this equipment ?

 

Answer rating: 100% (QA)

To record the sale of equipment by Twisted Pretzel Inc we need to make the following journal entry D... View the full answer