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-   -   Depreciation Estimate (https://www.askmehelpdesk.com/showthread.php?t=319151)

  • Feb 18, 2009, 06:16 PM
    stephyaz
    Depreciation Estimate
    A machine with a cost of 100K and accumlated depreciation of 80K was sold at a loss of 6K. What amount of cash was received from the sale? My answer is 74K. Is this correct?
  • Feb 18, 2009, 08:37 PM
    pready

    Debit Cash for 14K
    Debit Accumulated Depreciation for 80K
    Debit Loss on Sale for 6K
    Credit Machine 100K

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