Business, 12.08.2021 16:10 jalenshayewilliams

Monty Company sells equipment on September 30, 2020, for $18,600 cash. The equipment originally cost $74,900 and as of January 1, 2020, had accumulated depreciation of $42,700. Depreciation for the first 9 months of 2020 is $5,750. Prepare the journal entries to (a) update depreciation to September 30, 2020, and (b) record the sale of the equipment.

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Monty Company sells equipment on September 30, 2020, for $18,600 cash. The equipment originally cost...

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