Brief Exercise 7-8 Cullum ber Company sells office equipment on July 31, 2017, for $22,930 cash. The office equipment originally cost $79,340 and as of January 1, 2017, had accumulated depreciation of $41,660. Depreciation for the first 7 months of 2017 is $3,930. Prepare a tabular summary to (a) update depreciation to July 31, 2017, and (b) record the sale of the equipment. (Ifa 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) Assets Liabilities + Stockholders' Equity Retained Earnings Cash Equipment Accum. Depr. - Equip. + Common Stock Revenue Expense Dividend Bal LINK TO TEXT INTERACTIVE TUTORIAL Question Attempts: o of 3 used SAVE FOR LATER SUBMIT ANSWER SUBMIT