Wiley Company sells office equipment on September 30,1998 , for \(\$ 21,000\) cash. The office equipment originally cost \(\$ 72,000\) and as of January 1, 1998, had accumulated depreciation of \(\$ 42,000\). Depreciation for the first 9 months of 1998 is \(\$ 6,250\). Prepare the journal entries to

(a) update depreciation to September 30, 1998, and

(b) record the sale of the equipment.