On September 30, 2013, Sternberg Company sold office equiptment for $12,000. The equiptment was purchased on March 31, 2010, for $24,000. The asset was being depreciated over a five year life using the straight-line method, with depreciation based on months in sevice. No residual value was anticipated.
Required:
Prepare the journal entries to record 2013 depreciation and the sale of the equipment.