Prepare the journal entries to record the following transactions for Pharoah Wholesale Company, which has a calendar year end and uses the straight$-$line method of depreciation.

$($a$)$

On September $30,2028,$ the company sold old equipment for $$42,300.$ The equipment was purchased on January $1,2026$ for $$88,200$ and was estimated to have a $$13,500$ salvage value at the end of its $5-$year life. Depreciation on the equipment has been recorded through December $31,2027.($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 O for the amounts. List all debit entries before credit entries.$)$