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Funseth Farms Incorporated purchased a tractor in 2021 at a cost of $30,000. The tractor...

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Accounting

imageimage Funseth Farms Incorporated purchased a tractor in 2021 at a cost of $30,000. The tractor was sold for $3,000 in 2024 . Depreciation recorded through the disposal date totaled $26,000. (1) Prepare the journal entry to record the sale. (2) Now assume the tractor was sold for $10,000; prepare the journal entry to record the sale. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the sale of the tractor for $3,000. Note: Enter debits before credits. Journal entry worksheet Record the sale of the tractor assuming the new sales price of $10,000. Note: Enter debits before credits

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