Required information [The following information applies to the questions displayed below.] Abbott Landscaping purchased a tractor at a cost of $39,000 and sold it three years later for $19,800. Abbott 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. Fequired: - Record the sale. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account eld.) & Answer is complete but not entirely correct. No Transaction General Journal Debit Credit 1 Cash 19,800 21,900 Accumulated Depreciation Equipment 39,000 2,100 X Gain