Gunkelson Company sells equipment on September 30 2017 for 18 000
Gunkelson Company sells equipment on September 30, 2017, for $18,000 cash. The equipment originally cost $72,000 and as of January 1, 2017, had accumulated depreciation of $42,000. Depreciation for the first 9 months of 2017 is $5,250. Prepare the journal entries to
(a) Update depreciation to September 30, 2017, and
(b) Record the sale of the equipment.

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