Ivanhoe Company sells office equipment on July 31,2025 , for $22,330 cash. The office equipment originally cost $83,350 and as of January 1. 2025, had accumulated depreciation of $38,110. Depreciation for the first 7 months of 2025 is $4,730. Prepare the journal entries to (a) update depreciation to July 31, 2025, and (b) record the sale of the equipment. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent monuolly. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts.)