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Funseth Farms Inc. purchased a tractor in 2013 at a cost of $30,000. The tractor was sold for $3,000 in 2016. Depreciation recorded through the

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Funseth Farms Inc. purchased a tractor in 2013 at a cost of $30,000. The tractor was sold for $3,000 in 2016. Depreciation recorded through the disposal date totaled $26,000. Required:1. Prepare the journal entry to record the sale. Assuming that the tractor was sold for $10,000, prepare the journal entry to record the sale

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