Record Journal Entry 1 and 2

1

2

Funseth Farms Incorporated purchased a tractor in 2021 at a cost of $32,400. The tractor was sold for $3,200 in 2024. Depreciation recorded through the disposal date totaled $28,000. (1) Prepare the journal entry to record the sale. (2) Now assume the tractor was sold for $10,600; prepare the journal entry to record the sale. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 2 Record the sale of the tractor for $3,200. Note: Enter debits belore credits. Record the sale of the tractor assuming the new sales price of $10,600. Note: Enter debits before credits