9) A local business in Brandon sells equipment on October 31, 2023. The equipment cost $20,000 when it was purchased on January 1,2020 and has been depreciated on a straight-line basis. When the equipment was originally purchased the business estimated that it would have a 10 -year life and a $1,000 residual value. Required (14 marks): a) Record all journal entries related to the sale of the equipment for $3,500 cash, assuming that no depreciation has been recorded in 2023. b) Record all journal entries related to the sale of the equipment for $13,500 cash, assuming that no depreciation has been recorded in 2023. 9) A local business in Brandon sells equipment on October 31, 2023. The equipment cost $20,000 when it was purchased on January 1,2020 and has been depreciated on a straight-line basis. When the equipment was originally purchased the business estimated that it would have a 10 -year life and a $1,000 residual value. Required (14 marks): a) Record all journal entries related to the sale of the equipment for $3,500 cash, assuming that no depreciation has been recorded in 2023. b) Record all journal entries related to the sale of the equipment for $13,500 cash, assuming that no depreciation has been recorded in 2023