Knowledge Check
The equipment and the accumulated depreciation accounts began the year with balances of $58,500 and $17,700, respectively. During the year, $22,500 of equipment was budgeted for purchase for cash, equipment costing $6,800 with accumulated depreciation of $4,100 was expected to be sold for $3,100, and budgeted depreciation expense was $2,600. How much is reported on the budgeted balance sheet for equipment and accumulated depreciation?
Equipment
$
Accumulated depreciation
$