Tong Company sells office equipment on September 30. 2006. for $20,000 cash. The office equipment originally cost $72,000 and as of January 1, 2006. had accumulated depreciation of $42,000. Depreciation for the first 9 months of 2006 is $4,500. Prepare the journal entries to

(a) update depreciation to September 30, 2006. and

(b) record the sale of the equipment.