A company purchased a tractor at a cost of $39,000 and sold it three years later for $19,800. The company recorded depreciation using the straight-line method, a five-year service life, and a $2,500 residual value. Tractors are included in the Equipment account. Required: 1. Record the sale. 2. Assume the tractor was sold for $12,400 instead of $19,800. Record the sale.