Cullumber Company sells office equipment on July 31, 2022, for $22,930 cash. The office equipment originally cost $79,340 and as of January 1, 2022, had accumulated depreciation of $41,660. Depreciation for the first 7 months of 2022 is $3,930. Prepare the journal entries to (a) update depreciation to July 31, 2022, 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 O0 for the amounts.) No. Account Titles and Explanation (a) (b) Debit Credit

Cullumber Company sells office equipment on July 31,2022 , for $22,930 cash. The office equipment originally cost $79,340 and as of January 1,2022, had accumulated depreciation of $41,660. Depreciation for the first 7 months of 2022 is $3,930. Prepare the journal entries to (a) update depreciation to July 31, 2022, 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 tities and enter 0 for the amounts.)