How would u journalize this entry to record the sale of equipment?

Sold equipment that cost $792,500 when purchased on January 1, 2005. The equipment was sold for $464,800........there should be 4 journal entries for the date of the transaction.|||^^ possum sounds like an accounting major lol. i took accounting a while ago, but that sounds right.|||You're going to need the book value or the accumulated depreciation for the equipment.





Dr. Cash _______ 464,800


Dr. acc. depr. ___ xxx


.....Cr. equipment ________ 792,500








You will either debit a loss or credit a gain to balance the equation.