Required information Exercise 7-17 (Algo) Record the sale of equipment (LO7.6) [The following information applies to the questions displayed below.] Freeman Landscaping purchased a tractor at a cost of $37,000 and sold it three years fater for $18,800. Freeman recorded depreciation using the straight-line method, a five-year service life, and a $2,500 residual value. Tractors are included in the Equipment account. Exercise 7-17 (Algo) Part 1 Required: 1. Record the sale. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account) field.) Journal entry worksheet Note: Enter debits before credits