! Required information [The following information applies to the questions displayed below.) Abbott Landscaping purchased a tractor at a cost of $30,000 and sold it three years later for $16,200. 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. 2. Assume the tractor was sold for $10,600 instead of $16,200. 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 General Journal Debit Credit 1 1 Accumulated Depreciation Cash 18,000 10,000 X 4,000 X Loss Equipment 32,000 X