Funseth Farms Inc. purchased a tractor in 2018 at a cost of $51,600. The tractor was sold for $4,800 in 2021. Depreciation recorded through the disposal date totaled $44,000. (1) Prepare the journal entry to record the sale. (2) Now assume the tractor was sold for $15,400; prepare the journal entry to record the sale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Record the sale of the tractor for $4,800.

Record the sale of the tractor assuming the new sales price of $15,400.