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

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Question

Accounting

!
Required information
[The following information applies to the questions displayed below.]
Faucet Landscaping purchased a tractor at a cost of $33,000 and sold it three years later for $16,500. Faucet recorded depreciation using the straight-line method, a five-year service life, and a $2,000 residual value. Tractors are included in the Equipment account.
Required:
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.
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