Arma Ltd. sells equipment on September 30, 2017, for 20,000 cash. The equipment originally cost 72,000 and

Question:

Arma Ltd. sells equipment on September 30, 2017, for £20,000 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 £4,800. Prepare the journal entries to
(a) Update depreciation to September 30, 2017, and
(b) Record the sale of the equipment.