Sandhill Co. sells office equipment on July 31, 2017, for $22,430cash. The office equipment originally cost $77,870and as of January 1, 2017, had accumulated depreciation of $36,830. Depreciation for the first 7 months of 2017 is $4,580.

Prepare the journal entries to (a) update depreciation to July 31, 2017, and (b) record the sale of the equipment.(Credit account titles are automatically indented when amount is