Wing Pang Company sells equipment on September 30, 2012, for $20,000 cash. The equipment originally cost $72,000

Question:

Wing Pang Company sells equipment on September 30, 2012, for $20,000 cash. The equipment originally cost $72,000 and as of January 1, 2012, had accumulated depreciation of $42,000. Depreciation for the first 9 months of 2012 is $5,250. Prepare the journal entries to
(a) Update depreciation to September 30, 2012, and
(b) Record the sale of the equipment.