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The following balance sheets and income statement were taken from the records of Rosie-Lee Company: Additional transactions were as follows: a. Sold equipment costing $21,600, with accumulated depreciation of $16,200, for $3,600.
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Why is accumulated depreciation a credit balance?
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![HOMEWORK] Partial balance sheet, not sure what to credit after accumulated depreciation and amortization (see comments) : r/Accounting](http://i.imgur.com/Ph1lVRO.png "HOMEWORK] Partial balance sheet, not sure what to credit after accumulated depreciation and amortization (see comments) : r/Accounting")
HOMEWORK] Partial balance sheet, not sure what to credit after accumulated depreciation and amortization (see comments) : r/Accounting
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