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  3. equipment was purchased for $40,000, with accumula

Equipment was purchased for $40,000, with accumulated depreciation to date of $24,000. Assuming the equipment...

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Accounting

Equipment was purchased for $40,000, with accumulated depreciation to date of $24,000.

Assuming the equipment was sold for $14,200, journalize the entry to record the sale.

ACCOUNT DEBIT CREDIT
CASH 14,200.00
ACCUMULATION DEPRECIATION EQUIPMENT 24,000.00

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