Cullumber Company owns equipment that cost $$52,000$ when purchased on January $2,2024.$ It has been depreciated using the straight$-$line method based on estimated residual value of $$4,000$ and an estimated useful life of five years.

Following are the four independent situations. Assume depreciation hasbeen recorded to the date of sale.Prepare entry to record sale of equipment for $26600$ on may $1$