question archive Counselors of Atlanta purchased equipment on January ?1, 2017?, for $20,000
Counselors of Atlanta purchased equipment on January ?1, 2017?, for $20,000
Subject:AccountingPrice: Bought3
Counselors of Atlanta purchased equipment on January ?1, 2017?, for $20,000. Counselors of Atlanta expected the equipment to last for four years and have a residual value of $2,000. Suppose Counselors of Atlanta sold the equipment for $8,000 on December 31, 2019, after using the equipment for three full years. Assume depreciation for 2019 has been recorded. Journalize the sale of the? equipment, assuming? straight-line depreciation was used.
