Required information Exercise 7-17A Record the sale of equipment (LO7-6) [The following information applies to the questions displayed below.] Abbott Landscaping purchased a tractor at a cost of $29.000 and sold it three years later for $15,700. Abbott recorded depreciation using the straight-line method, a five-year service life, and a $4,000 residual value. Tractors are included in the Equipment account. Exercise 7-17A Part 2 2. Assume the tractor was sold for $10,300 instead of $15.700. Record the sale. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)