Crane Limited sold equipment on September $30,2024,$ for $$37,960$ cash. The equipment originally cost $$138,340$ when purchased on

January $1,2022.$ It has an estimated residual value of $$4,180$ and a useful life of five years. Depreciation is recorded annually and was

last recorded on December $31,2023,$ the company's year end.

Record debit side accounts first followed by credit side accounts.

$($a$)$

Prepare the journal entry to update depreciation using the straight$-$line method to September $30,2024.($List debit entry before

credit entry. Credit account titles are automatically indented when the 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.$)$