Sandhill Company. sells office equipment on July 31, 2027, for $23,500 cash. The office equipment originally cost $75,080 and as of January 1, 2027, had accumulated depreciation of $41,850. Depreciation for the first 7 months of 2027 is $3,850. Prepare a tabular summary to (a) update depreciation to July 31, 2027, and (b) record the sale of the equipment. Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses. - Increases in expenses and losses require a negative sign or parentheses. Increases in Accumulated Depreciation require a negative sign or parentheses. Decreases in Accumulated Depreciation are entered as postive amounts. Bal. (a) (b) $ tA Cash + $ Assets Equipment Accum. Depr. - Equip. $ = = Liabilities + + SA 0

Sandhill Company. sells office equipment on July 31,2027 , for $23,500 cash. The office equipment originally cost $75,080 and as of January 1,2027, had accumulated depreciation of $41,850. Depreciation for the first 7 months of 2027 is $3,850. Prepare a tabular summary to (a) update depreciation to July 31,2027 , and (b) record the sale of the equipment. - Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses. - Increases in expenses and losses require a negative sign or parentheses. - Increases in Accumulated Depreciation require a negative sign or parentheses. - Decreases in Accumulated Depreciation are entered as postive amounts