Oriole Company sells office equipment on July $31,2022,$ for $$20,280$ cash. The office equipment originally cost $$78,950$ and as of January $1,2022,$ had accumulated depreciation of $$38,410.$ Depreciation for the first $7$ months of $2022$ is $$4,410.$

Prepare a tabular summary to $($a$)$ update depreciation to July $31,2022,$ and $($b$)$ record the sale of the equipment. $($If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign $($or parentheses$)$ in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.$)$

Cash Assets

Bal. $ Equipment

$($a$)$