Question: Company sells equipment on September 30, 2015, for $16,980 cash. The equipment originally cost $73,320 and as of January 1, 2015, had accumulated depreciation of

Company sells equipment on September 30, 2015, for $16,980 cash. The equipment originally cost $73,320 and as of January 1, 2015, had accumulated depreciation of $42,760. Depreciation for the first 9 months of 2015 is $5,350. Prepare the journal entries to (a) update depreciation to September 30, 2015, and (b) record the sale of the equipment

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