Blossom Company sells office equipment on July 31, 2022, for $20,000 cash. The office equipment originally cost $72,000 and as of January 1, 2022, had accumulated depreciation of $35,000. Depreciation for the first 7 months of 2022 is $3,500. Prepare a tabular summary to (a) update depreciation to July 31, 2022, and (b) record the sale of the equipment. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Bal. (a) (b) +A $ Cash +A Assets Equipment +A $ Accum. Depr. - Equip. Liabilities + LA LA $ Common Stock CA $ Revenue Stockholders' Equity +A $ Retained Earnings Expense GA $ Dividend Amortization expense Loss on disposal Depreciation expense Gain on disposal Research & development expense Gain on disposal Research & development expense Loss on disposal Amortization expense Depreciation expense