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As part of a major renovation at the beginning of the year, Bonhams Bakery sold...

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Finance

As part of a major renovation at the beginning of the year, Bonhams Bakery sold shelving units (store fixtures) that were 8 years old for $3,200 cash. The original cost of the shelves was $7,600 and they had been depreciated on a straight-line basis over an estimated useful life of 10 years with an estimated residual value of $1,900.

Record the sale of the shelving units. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Note: Enter debits before credits.

Transaction

General Journal

Debit

Credit

1

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