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! Required information [The following information applies to the questions displayed below.] ...

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Accounting

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Required information
[The following information applies to the questions displayed below.]
Freeman Landscaping purchased a tractor at a cost of $37,000 and sold it three years later for $18,800. Freeman recorded depreciation using the straight-line method, a five-year service life, and a $2,500 residual value. Tractors are included in the Equipment account.
2. Assume the tractor was sold for $11,800 instead of $18,800. Record the sale. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Journal entry worksheet
1
Record the sale of tractor.
Note: Enter debits before credits.
\table[[Transaction,General Journal,Debit,Credit],[1,grad,,],[,,,],[,,,],[,,,],[,,,],[,,,]]
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