Flounder Corporation owns equipment that cost $50,400 when purchased on April 1, 2013. Depreciation has been recorded at a rate of $8,400 per year, resulting in a balance in accumulated depreciation of $39,900 at December 31, 2017. The equipment is sold on July 1, 2018, for $10,080. Prepare journal entries to (a) update depreciation for 2018 and (b) record the sale. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No.	Account Titles and Explanation	Debit	Credit
(a)
(b)