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.

Required:

1. Record the sale. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first a field.)

[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 Required: 1. Record the sale. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first field.) Journal entry worksheet Note: Enter debits before credits