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 $35,000 and sold it three years later for $17,500. Abbott recorded depreciation using the straight-line method, a five-year service life, and a $2,000 residual value. Tractors are included in the Equipment account. Exercise 7-17A Part 2 2. Assume the tractor was sold for $10,900 instead of $17,500. Record the sale. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) No Transaction Credit General Journal Cash Accumulated Depreciation Loss Equipment Debit 10,900 19,800 2,300 35,000