Prepare the journal entry to record the sale of the equipment. (Credit account titles are automatically...

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Prepare the journal entry to record the sale of the equipment. (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. List all debit entries before credit entries.) Date Account Titles Debit Credit Mar. 31 Land Building Sandhill Company sells equipment on March 31, 2024, for $33,480 cash. The equipment was purchased on January 5, 2021, at a cost of $83,000, and had an estimated useful life of five years and a residual value of $2,700. Sandhill Company uses straight-line depreciation for equipment. Adjusting journal entries are made annually at the company's year end, December 31. (a) Your answer is correct. Prepare the journal entry to update depreciation to March 31, 2024. (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. List debit entry before credit entry.) Date Account Titles Mar. 31 Depreciation Expense Accumulated Depreciation - Equipment Debit 4015 Credit 4015 Prepare the journal entry to record the sale of the equipment. (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. List all debit entries before credit entries.) Date Account Titles Debit Credit Mar. 31 Land Building Sandhill Company sells equipment on March 31, 2024, for $33,480 cash. The equipment was purchased on January 5, 2021, at a cost of $83,000, and had an estimated useful life of five years and a residual value of $2,700. Sandhill Company uses straight-line depreciation for equipment. Adjusting journal entries are made annually at the company's year end, December 31. (a) Your answer is correct. Prepare the journal entry to update depreciation to March 31, 2024. (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. List debit entry before credit entry.) Date Account Titles Mar. 31 Depreciation Expense Accumulated Depreciation - Equipment Debit 4015 Credit 4015