Solve and explain both.

Gunkelson Company sells equipment on September 30, 2015, for $20,790 cash. The equipment originally cost $72,450 and as of January 1, 2015, had accumulated depreciation of $42,100. Depreciation for the first 9 months of 2015 is $5,750. Prepare the journal entries to (a) update depreciation to September 30, 2015, and (b) record the sale of the equipment. (If no entry is required, select "No entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Account Titles and Explanation (a) (b)