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Accounting

Required information
[The following information applies to the questions displayed below.]
Abbott Landscaping purchased a tractor at a cost of $42,000 and sold it three years later for $21,600. Abbott recorded depreciation using the straight-line method, a five-year service life, and a $3,000 residual value. Tractors are included in the Equipment account.
Assume the tractor was sold for $13,600 instead of $21,600. Record the sale. (If no entry is required for a particula ansaction/even" 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,,,,],[,,,]]
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