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Equipment in general governmental service that had been acquired several years ago by a capital projects fund at a cost of $30,000 was sold for $11,000 cash. Accumulated depreciation of $20,000 existed at the time of the sale. The journal entry to be made in the governmental activities journal will include all of the following except

A) A debit to cash for $11,000.

B) A debit to accumulated depreciation of $20,000.

C) A credit to equipment for $30,000.

D) A debit to loss on sale of equipment of $1,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9412367

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