give the entries to record the (a) reclassification and (b) sales of the services division

On 1 August 20X5, Graham Ltd. decided to discontinue the operations of its services division. The services division is not a separate corporation, but it is a major operating segment, financially and operationally. On 22 September 20X5, Graham closed a deal to sell the division to Frost Ltd. Frost will assume responsibility for the current liabilities (e.g., accounts payable and accrued liabilities) that pertain to the division. The facts pertaining to the sale are as follows: On 31 December 20X5, the after-tax net income, including the services division, was $300,000