Sunland company purchased equipment for $176,800. The equipment had a 10-year useful life and an $13,600 salvage value. At December 31, 2021, there was $114,240 in the Accumulated Depreciation account for this equipment using the straight-line method of depreciation. On March 31, 2022, the equipment was sold for $35,700. Prepare the appropriate journal entries to remove the equipment from the books of Sunland Company on March 31, 2022. (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.)

Sunland company purchased equipment for $176,800. The equipment had a 10 -year useful life and an $13,600 salvage value. At December 31,2021 , there was $114,240 in the Accumulated Depreciation account for this equipment using the straight-line method of depreciation. On March 31, 2022, the equipment was sold for $35,700. Prepare the appropriate journal entries to remove the equipment from the books of Sunland Company on March 31, 2022. (Credit account tities 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.)