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Faucet Landscaping purchased a tractor at a cost of $39,000 and sold it three years later for $19,800. Faucet recorded depreciation using the straight-line method,

Faucet Landscaping purchased a tractor at a cost of $39,000 and sold it three years later for $19,800. Faucet recorded depreciation using the straight-line method, a five-year service life, and a $2,500 residual value. Tractors are included in the Equipment account. Required: 1. Record the sale.

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