Sheridan Excavations Ltd$.($SEL$)$ operates specialized equipment for installing natural gas pipelines. SEL, which has a December $31$ year end, began $2024$ with a single piece of equipment that had been purchased on January $1,2021,$ for $$27,000$ and a truck that had been purchased on January $1,2023,$ for $$60,000.$ When the equipment was purchased, SEL's management had estimated that the equipment would have a residual value of $$3,000$ and a useful life of six years. When the truck was purchased, management determined that it would have a useful life of four years and a residual value of $$6,000.$

On March $31,2024,$ SEL sold this piece of equipment for $$22,000$ cash. On April $12,2024,$ SEL purchased replacement equipment with double the capacity for $$46,600$ cash. SEL's management determined that this equipment would have a useful life of six years and a residual value of $$7,000.$

Prepare all necessary journal entries for the year ended December $31,2024.$ Assume that SEL uses the straight$-$line depreciation method for its equipment and the double$-$diminishing$-$balance method for its trucks. $($Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.$)$Accumulated Depreciation $-$ Equipment$($To record depreciation expense$)$Accumulated Depreciation $-$ Equipment$($To record depreciation expense on equipment$)($To record depreciation expense on truck$)$