- Spring 2020 Saved Hels Strawberry Fields purchased a tractor at a cost of $39,000 and sold it two years later for $24,400. Strawberry Fields recorded depreciation using the straight-line method, a five-year service life, and an $6,000 residual value. 1. What was the gain or loss on the sale? on sale ( 9 ) 2. Record the sale. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the sale. Note: Enter debts before credits Transaction General Journal Debit Credit Prev 1 of 6 !!! Next > 2. Record the sale. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Record the sale. Note: Enter debit before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal