On December 29, 2021, Patel Products, Incorporated, sells a delivery van that cost $20,000. The equipment had accumulate
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On December 29, 2021, Patel Products, Incorporated, sells a delivery van that cost $20,000. The equipment had accumulate
On December 29, 2021, Patel Products, Incorporated, sells a delivery van that cost $20,000. The equipment had accumulated depreciation of $16,000 at December 31, 2020. Annual depreciation on this equipment is $2,000 computed using straight-line depreciation. Complete the necessary journal entry to bring the accumulated depreciation up-to-date by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.