problem 3

Problem #3 The following are the cost and related accumulated depreciation for capital assets of XYZ Company that were sold at December 31, 2020: Cost Accumulated Depreciation Equipment Vehicle Machinery Furniture $42,800 55,000 120,000 16,500 $21,000 32,000 95,000 12,000 Record journal entries for each of the following: a) The equipment was sold for $21,800 b) The vehicle was sold for $ 15,500. c) The machinery was sold for $36,500 d) The furniture was donated to a local charity