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(b) Your answer is partially correct. Prepare the journal entry to record the sale of the equipment. (List all debit entrles before credit entries. 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 Ofor the amounts.) Account Titles and Explanation Debit Credit Cash 38560 Accumulated Depreciation - Equipment Loss on Disposal Equipment 156630 e Textbook and Media List of Accounts Save for Later Attempts: unlimited Submit Answer Question 5 of 12 3.674 E Oriole Limited sells equipment on September 30, 2021, for $38,560 cash. The equipment originally cost $156,630 when purchased on January 1, 2019. It has an estimated residual value of $4.290 and a useful life of five years. Depreciation is recorded annually and was last recorded on December 31, 2020, the company's year end. Record debit side accounts first followed by credit side accounts. (a) Your answer is correct Prepare the journal entry to update depreciation using the straight-line method to September 30, 2021. (List all debit entries before credit entries. 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 for the amounts.) Debit Credit Account Titles and Explanation Depreciation Expense 22851 22851 Accumulated Depreciation Equipment Assistance Used e Textbook and Media List of Accounts