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    stephyaz's Avatar
    stephyaz Posts: 3, Reputation: 1
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    #1

    Feb 18, 2009, 06:16 PM
    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?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Feb 18, 2009, 08:37 PM

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