Question: Visual Graphics Company sold a printing press for $ 74,000 on the last day of the reporting period. The printing press had a gross and

Visual Graphics Company sold a printing press for $ 74,000 on the last day of the reporting period. The printing press had a gross and net amount of $ 100,000 and $ 65,000, respectively, reflected on the balance sheet at that date. What is the journal entry made by the company to reflect this asset sale?

a. Cash 74,000 Printing Equipment Gain on Sale 65,000 9,000 b. Cash 74,000 Accumulated Depreciation 35,000 Printing Equipment Gain on Sale 100,000 9,000 c. Cash 74,000 Printing Equipment Gain on Sale 65,000 9,000 d. Accumulated Depreciation 65,000 Printing Equipment Gain on Sale 35,000 30,000

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