An Asset That Cost $24,000 and Has Accumulated Depreciation of $18,000

Multiple Choice

An asset that cost $24,000 and has accumulated depreciation of $18,000 is sold for $5,200.The entry to record the sale is:

A) Accumulated Depreciation- Asset 6,000
Asset 6,000
B) Cash 5,200
Accumulated Depreciation- Asset 18,000
Loss on Sale of Asset 800
Asset 24,000
C) Loss on Sale of Asset 18,800
Asset 18,800
D) Asset 18,000
Accumulated Depreciation- Asset 18,000