Ivanhoe Limited sells equipment on September 30, 2018, for $38,990 cash. The equipment originally cost $148,250 when purchased on January 1, 2016. It has an estimated residual value of $4,290 and a useful life of five years. Depreciation was last recorded on December 31, 2017, the company's year end. Record debit side accounts first followed by credit side accounts. (a) Prepare the journal entry to update depreciation using the straight-line method to September 30, 2018. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Depreciation Expense Accumulated Depreciation - Equipment