Brief Exercise 9-8 Your answer is partially correct. Try again. Crane Company sells office equipment on July 31, 2017, for $23,130 cash. The office equipment originally cost $81,640 and as of January 1, 2017, had accumulated depreciation of $35,870. Depreciation for the first 7 months of 2017 is $4,810. Prepare the journal entries to (a) update depreciation to July 31, 2017, and (b) record the sale of the equipment. (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 0 for the amounts.) No. Account Titles and Explanation (a) Depreciation Expense Accumulated Depreciation-Equipment (b) Cash Accumulated Depreciation-Equipment Loss on Disposal of Plant Assets Equipment Debit Credit 4,810 4,810 23,130 35,870 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT 12,740 81,640 INTERACTIVE TUTORIAL