Question: Write a journal entry to record the following transaction. On May 17th 2016, Aubie Inc. (a manufacture of plastic football shakers) sold a piece of
Write a journal entry to record the following transaction.
On May 17th 2016, Aubie Inc. (a manufacture of plastic football shakers) sold a piece of equipment for $10,000. The equipment had a historical cost of $25,000 and a book value of $19,000. (Hint: You Should have 4 accounts in your journal entry: Cash, Equipment, Accumulated Depreciation-equipment, and either a Gain or Loss on the sale of equipment.)
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