Sold obsolete store equipment for $630 cash. The equipment  originally cost $2,105 and depreciation to March 31 of this year (the  end...

Sold obsolete store equipment for $630 cash. The equipment 

originally cost $2,105 and depreciation to March 31 of this year (the 

end of the first quarter) totals $1,200. The asset depreciates on a 

straight-line basis at a rate of $40 per month and depreciation is 

calculated to the nearest month (two entries required).