On September 30, 2021, Sternberg Company sold office equipment for $12,000. The equipment was purchased on March 31, 2018, for $24,000. The asset was being depreciated over a five-year life using the straight-line method, with depreciation based on months in service. No residual value was anticipated.

Required: Prepare the journal entries to record 2021 depreciation and the sale of the equipment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

• Record the depreciation for office equipment purchased on March 31, 2018 for $24,000 having no residual value sold on September 30, 2021 , depreciated over a five-year life using the straight-line method, with depreciation based on months in service.

• 2

  Record the sale of office equipment on September 30, 2021.