Exercise $7-17($Algo$)$ Record the sale of equipment $($LO$7-6)$

$[$The following information applies to the questions displayed below.$]$

Faucet Landscaping purchased a tractor at a cost of $$25,000$ and sold it three years later for $$13,400.$ Faucet recorded depreciation using the straight$-$line method, a five$-$year service life, and a $$3,500$ residual value. Tractors are included in the Equipment account.

Exercise $7-17($Algo$)$ Part $2$

$2.$ Assume the tractor was sold for $$8,800$ instead of $$13,400.$ Record the sale. $($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$