Brief Exercise 10-14 Vaughn Corporation owns machinery that cost $22,400 when purchased on July 1, 2014. Depreciation has been recorded at a rate of $2,688 per year, resulting in a balance in accumulated depreciation of $9,408 at December 31, 2017. The machinery is sold on September 1, 2018, for $11,760 Prepare journal entries to (a) update depreciation for 2018 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 Click if you would like to Show Work for this question: Open Show Work