Monty Corp. sells office equipment on July $31,2022,$ for $\backslash (\backslash$$ $18,600\backslash )$ cash. The office equipment originally cost $\backslash (\backslash$$ $74,500\backslash )$ and as of Janua $1,2022,$ had accumulated depreciation of $\backslash (\backslash$$ $42,700\backslash ).$ Depreciation for the first $7$ months of $2022$ is $\backslash (\backslash$$ $4,950\backslash ).$ 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 $0$ for the amounts.$)$