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ABC Company has the following asset on its books. Match the appropriate disposal journal...

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Accounting

ABC Company has the following asset on its books. Match the appropriate disposal journal entry.
Equipment: Purchase price
Accumulated Depreciation
$40,000
35,0005,000
Book value
35,0005,000
\table[[A/D,,35,000,],[Cash,,5,000,],[,Equipment,,40,000]]
The asset was scrapped with no salvage value.
\table[[AD,,35,000,],[Loss,,5,000,],[,Equipment,,40,000]]
The asset was sold for $5,000 cash.
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