QS $12-13($Algo$)$ Computing cash from asset sales LO P$3$

CRUZ, INCORPORATEDComparative Balance SheetsAt December $3120212020$Assets$$Cash$ $73,200$$ $18,300$Accounts receivable, net$31,40038,800$Inventory$65,70072,800$Prepaid expenses$4,1003,300$Total current assets$174,400133,200$Furniture$82,70093,500$Accumulated depreciation$$Furniture$(12,800)(7,100)$Total assets$ $244,300$$ $219,600$Liabilities and Equity$$Accounts payable$ $11,500$$ $16,200$Wages payable$6,8003,800$Income taxes payable$1,1002,100$Total current liabilities$19,40022,100$Notes payable $($long$-$term$)22,70055,700$Total liabilities$42,10077,800$Equity$$Common stock, $$5$ par value$173,100134,500$Retained earnings$29,1007,300$Total liabilities and equity$ $244,300$$ $219,600$

CRUZ, INCORPORATEDIncome StatementFor Year Ended December $31,2021$Sales$ $375,900$Cost of goods sold$241,900$Gross profit$134,000$Operating expenses $($excluding depreciation$)68,600$Depreciation expense$28,900$Income before taxes$36,500$Income taxes expense$13,300$Net income$ $23,200$

Furniture costing $$70,400$ is sold at its book value in $2021.$ Acquisitions of furniture total $$59,600$ cash, on which no depreciation is necessary because it is acquired at year$-$end. Complete the general ledger accounts to calculate cash received from the sale of furniture.