Adjusting Entries: Accumulated Depreciation

Adjusting Entries: Accumulated depreciation equipment at 1/1/06 was $230,000. At 12/31/06 the balance of the account was $280,000. During 2006, one piece of equipment was sold. The equipment had an original cost of $40,000 and was 3/4 depreciated when sold. You are to prepare the missing adjusting entry. For each journal entry write the Dr for debit and the Cr for credit.

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.... If there was no other entry, the accumulated depreciation account would show a balance of ...