Business, 14.11.2019 06:31 haileyhale5

Marks consulting purchased equipment costing $45,000 on january 1, year 1. the equipment is estimated to have a salvage value of $5,000 and an estimated useful life of 8 years. straight-line depreciation is used. if the equipment is sold on july 1, year 5 for $20,000, the journal entry to record the sale will include a:
a) credit to cash for $20,000.
b) debit to accumulated depreciation for $22,500.
c) debit to loss on sale for $10,000.
d) credit to loss on sale for $10,000

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Marks consulting purchased equipment costing $45,000 on january 1, year 1. the equipment is estimate...

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