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What was the amount of debit to the accumulated depreciation

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Reference no: EM133033109

Problem - Equipment was purchased for a cost of $1,400,000. Equipment with a book value of $390,000 was sold for $450,000. Data from the comparative balance sheets are:

 

12/31/20

12/31/19

Equipment

$5,400,000

$4.875,000

Accumulated Depreciation

1,710,000

1,425,000

Required - What was the amount of debit to the accumulated depreciation account in the journal entry to record the sale?

Reference no: EM133033109

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