Riverbed Corporation owns equipment that cost $61,200 when purchased on April 1, 2013. Depreciation has been recorded at a rate of $10,200 per year, resulting in a balance in accumulated depreciation of $48,450 at December 31, 2017. The equipment is sold on July 1, 2018, for $12,240.

Prepare journal entries to (a) update depreciation for 2018 and (b) record the sale.