Ivanhoe Company sells office equipment on July 31, 2022, for $22,330 cash. The office equipment originally cost $83,350 and as of January 1, 2022, had accumulated depreciation of $38, 110. Depreciation for the first 7 months of 2022 is $4,730. Prepare the journal entries to (a) update depreciation to July 31, 2022, and (b) record the sale of the equipment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Debit Credit No. Account Titles and Explanation (a) Depreciation Expense Accumulated Depreciation-Equipment (b) Accumulated Depreciation-Equipment Cash 22330 Loss on Disposal of Plant Assets 83350 Equipment