Sunland Company sells office equipment on July 31,2027 , for $23,830 cash. The office equipment originally cost $79,860 and as of January 1,2027 , had accumulated depreciation of $39,690. Depreciation for the first 7 months of 2027 is $4,090. Prepare a tabular summary to (a) update depreciation to July 31,2027 , and (b) record the sale of the equipment. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)