Freeman Landscaping purchased a tractor at a cost of $$44,000$ and sold it three years later for $$19,600.$ Freeman recorded depreciation using the straight$-$line method, a five$-$year service life, and a $$1,500$ residual value. Tractors are included in the Equipment account.

Required:

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

$$ View journal entry worksheet

$\backslash$table$[[$No$,$Transaction,General Journal,$],[,1,1,$Cash$],[,,$Accumulated Depreciation,$],[,,$Equipment,$]]$