Avon plc owns equipment that cost 60,000 when purchased on April 1, 2018. Depreciation has been recorded at a rate of 10,000 per year, resulting in a balance in accumulated depreciation of 47,500 at December 31, 2022. The equipment is sold on July 1, 2023, for 12,000. Prepare journal entries to (a) update depreciation for 2023 and (b) record the sale. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation Debit Credit (a) (b)