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On 1 January 2015 the Equipment Was Sold for $15

Question 50

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On 1 January 2015 the equipment was sold for $15 000. What is the accounting entry to record the receipt of the proceeds from the sale of the equipment? A) Debit bank $15 000; credit proceeds from sale of equipment $15 000 B) Debit bank $17 000; credit proceeds from sale of equipment $17 000 C) Debit bank $15 000; credit equipment $15 000 D) Debit bank $2000; credit proceeds from sale of equipment $2000 On 1 January 2015 the equipment was sold for $15 000. What is the accounting entry to record the receipt of the proceeds from the sale of the equipment?


A) Debit bank $15 000; credit proceeds from sale of equipment $15 000
B) Debit bank $17 000; credit proceeds from sale of equipment $17 000
C) Debit bank $15 000; credit equipment $15 000
D) Debit bank $2000; credit proceeds from sale of equipment $2000

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