Sunland Company sells equipment on March 31, 2021, for $34,270 cash. The equipment was purchased on January 5, 2018, at a cost of $84,000, and had an estimated useful life of five years and a residual value of $2,300. Sunland Company uses straight-line depreciation for equipment. Adjusting journal entries are made annually at the companys year end, December 31.

Prepare the journal entry to update depreciation to March 31, 2021. (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 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Mar. 31
	(To record depreciation expense.)

eTextbook and Media

List of Accounts

Prepare the journal entry to record the sale of the equipment. (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 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Mar. 31
	(To record disposal of equipment.)

eTextbook and Media

List of Accounts

Prepare the journal entry to record the sale of the equipment if Sunland Company received $26,995 cash for it. (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 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Mar. 31
	(To record disposal of equipment.)