Selling a machine on account at a gain

Transaction

A company sells a used machine on account for $9,000.00; the buyer will pay in 30 days. The machine cost $18,000.00 and its accumulated depreciation is $12,000.00.

Assumptions: Depreciation is accumulated in Accumulated Depreciation. Depreciation has been recorded up to the date of sale. Sales tax is ignored in this item.

Accounts

Tap an account, then choose Debit or Credit and type the amount. × removes a line.

Debit

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Credit

No lines yet. Choose an account above.

Debits $0.00Credits $0.00