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View Policies Current Attempt in Progress Blossom Limited sells equipment on September 30, 2021, for $37,870 cash. The equipment originally cost $156,280 when purchased on January 1, 2019. It has an estimated residual value of $4,380 and a useful life of five years. Depreciation is recorded annually and was last recorded on December 31, 2020, the company's year end. Record debit side accounts first followed by credit side accounts. (a) Your answer has been saved. See score details after the due date. Prepare the journal entry to update depreciation using the straight-line method to September 30, 2021. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Depreciation Expense 22785 Accumulated Depreciation - Equipment 22785 Attempts: 1 of 1 used (b) Prepare the journal entry to record the sale of the equipment. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Cash 37870 Accumulated Depreciation - Equipment 83545 Equipment 156280 Save for Later Attempts: 0 of 1 used Submit

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