... 11 ,66 7Cash 48,000Equipment 60 ,000Loss on sale of equipment 333To record sale of equipment 10288$ CH11 08-29-03 08:31:30 PS 88 Accounting Demystified FIGURE 12-1Patent17,000 1,000 16, 000FIGURE ... taking$10,000 and multiplying by1 /6) . The entry to record this partialyear’s depreciation is:XX/XX/XX Depreciation expense 1 ,66 7Accumulated depreciation—Equipment 1 ,66 7To record depreciation to ... earlier:1.Debit the accumulated depreciation, which is now$11 ,66 7 ($10,000 ם 1 ,66 7).2.Credit the asset account, which is $60 ,000.3.Debit anything received, which is $48,000.4.If a debit...