Answer ASAP plz

On January 2, Year 1 , Jenkins. Company purchased equipment costing $$18, 600$ , with an estimated salvage value of $$1, 000$ and an estimated useful ife of 12 years. On December 31, Year 8, Jenkins Company sold the equipment to Used Machine Company for $$6, 948$ . Required: Prepare the journal entry to record the sole of the asset. Note: Assume that Jenkins Company uses the straightilne depreciation method and that depreciation has already been recorded for the current yeat

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Answer ASAP plz
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On January 2, Year 1 , Jenkins. Company purchased equipment costing

$18, 600

, with an estimated salvage value of

$1, 000

and an estimated useful ife of 12 years. On December 31, Year 8, Jenkins Company sold the equipment to Used Machine Company for

$6, 948

. Required: Prepare the journal entry to record the sole of the asset. Note: Assume that Jenkins Company uses the straightilne depreciation method and that depreciation has already been recorded for the current yeat

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