The double entry to record the proceeds on disposal of assets in debit
- bank account; credit asset disposal account
- asset disposal account; credit bank account
-
provision for depreciation account; credit asset disposal account
- asset disposal account; credit provision for depreciation account
The correct answer is: C
Explanation
Debit provision for Depreciation account (to remove the equipment's up-to-date accumulated depreciation), Credit the account Equipment (asset disposal account) to remove the equipment's cost.