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BE9.12(LO 3)(Record sale of equipment.) Goo-Yeong Limited sold equipment on September 30,2024, for $42,000 cash....

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Accounting

BE9.12(LO 3)(Record sale of equipment.) Goo-Yeong Limited sold equipment on September 30,2024, for $42,000 cash. The equipment originally cost $144,000 when purchased on January 1,2022. It had an estimated residual value of $4,000 and a useful life of five years.
Depreciation is recorded annually and was last recorded on December 31,2023, the company's year end. Prepare the journal entries to (a) update depreciation using the straight-line method to September 30,2024, and (b) record the sale of the equipment.
Please show all the workings, thankyou so so much!
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