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General Accounting Discussions: Adjusting entry

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    • CommentAuthorCelia
    • CommentTimeJun 30th 2008
     
    How do you do an adjusting entry for the following: A company sold equipment with a net book value of 3366 and historical cost of 6885 for 3678. The entry was posted with debits of 3678 to cash, 3519 to depreciation expense and 3207 to extraordinary items - credits of 6885 to furniture and equipment and 3519 to accumulated amortization.

    Please help ASAP

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