Berman Company sold equipment on July 1, 2019 for $50,000. The equipment had cost $140,000 and had $80,000 of accumulated depreciation as of January 1, 2019. Depreciation for the first 6 months of...

Berman Company sold equipment on July 1, 2019 for $50,000. The equipment had cost $140,000 and had $80,000 of accumulated depreciation as of January 1, 2019. Depreciation for the first 6 months of 2019 was $8,000.

Instructions

Prepare the journal entry to record the sale of the equipment.