$($b$)$

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Assuming that Crane exercises its option to purchase the equipment on December $31,2026,$ prepare the journal entry to record the sale on Larkspur Leasing's books. $($List debit entry before credit entry. Credit account titles are automatically indented when 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.$)$

$\backslash$table$[[$Date$,$Account Titles and Explanation,Debit,Credit,$],[\frac{12}{31}\frac{?}{26},,,,],[,,,,]]$

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