Sheridan Corporation owns machinery that cost $24,800 when purchased on July 1, 2017. Depreciation has been recorded at a rate of $2.976 per year, resulting in a balance in accumulated depreciation of $10,416 at December 31, 2020. The machinery is sold on September 1, 2021, for $13,020. Prepare journal entries to (a) update depreciation for 2021 and (b) record the sale (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account tities and enter for the amounts.) Debit Credit No. Account Titles and Explanation (a) Deprecation Expense 1984 Accumulated Depreciation 1,984 ) (b) Cash 13,000 I Accumulated Depreciation 12.400 Gainon Disposal of Machinery Machinery