Abbott Landscaping purchased a tractor at a cost of $26,000 and sold it three years later for $13,900. Abbott recorded depreciation using the straight-line method, a five-year service life, and a $3,500 residual value. Tractors are included in the Equipment account.

1. Record the sale.

2. Assume the tractor was sold for $9,100 instead of $13,900. Record the sale.