Question $9$

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Edgewater Inc. purchased equipment on January $1$ of Year $1$ for $$72,000.$ The equipment has an estimated salvage value of $$6,000$ and an estimated useful life of $8$ years. The company depreciates the asset using the straight$-$line method. On May $30$ of Year $3,$ Edgewater Inc. sold the equipment for $$44,000.$

a$.$ Record the May $30$ of Year $3$ to update depreciation assuming that depreciation was last updated on December $31$ of Year $2.$

Note: Round your answers to the nearest whole dollar.

$\backslash$table$[[$Date$,$Account Name,Debit,Credit,$],[$May $30,$Depreciation Expense,$,8,063,0$