Funseth Farms Incorporated purchased a tractor in $2021$ at a cost of $$34,800.$ The tractor was sold for $$3,400$ in $2024.$ Depreciation recorded through the disposal date totaled $$30,000.$

$(1)$ Prepare the journal entry to record the sale. $(2)$ Now assume the tractor was sold for $$11,200$; prepare the journal entry to record the sale.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

$$

$\backslash$table$[[$No$,$Event,General Journal,Debit,Credit$],[1,1,$Accounts receivable,$3,400,],[,,$Sales revenue,,$3,400],[,,,,]]$

Prev

$5$ of $7$

Next