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Grey's Inc. decided to dispose of a piece of equipment and upgrade to a new...

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Accounting

Grey's Inc. decided to dispose of a piece of equipment and upgrade to a new model. They had
purchased the old evaporator on January 1,2012 for $12,900. There was no salvage/residual
value and the useful life Grey's used was 6 years. Grey's depreciated the machinery using the
Straight Line method.
Grey's sold the equipment on June 30,2016 to Tavon for $2975.
a) Calculate the Book Value at time of sale.(Do not round the depreciation per year.)
$
b) Calculate Grey's gain or loss on this sale? Enter a loss as a negative value.
$
c) Journalize this sale on Grey's books on June 30,2016.
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