Exercise 7-17 Record the sale of equipment (LO7-6) The following information applies to the questions displayed below. Abbott Landscaping purchased a tractor at a cost of $26,000 and sold it three years later for $13,900. Abbott 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 References Section Break Exercise 7-17 Record the sale of equipment (LO7-6)