Sandhill Company sold equipment for $5,500. The equipment originally cost $12,500 in 2019 and $3,000 was spent on a majo

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Sandhill Company Sold Equipment For 5 500 The Equipment Originally Cost 12 500 In 2019 And 3 000 Was Spent On A Majo 1 (353.19 KiB) Viewed 61 times

Sandhill Company sold equipment for $5,500. The equipment originally cost $12,500 in 2019 and $3,000 was spent on a major overhaul in 2022 (charged to the Equipment account). Accumulated Depreciation on the equipment to the date of disposal was $10,000. Prepare the appropriate journal entry to record the disposition of the equipment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit