Sunland Excavations Ltd. (SEL) operates specialized equipment for installing natural gas pipelines. SEL, which has a December 31 year end, began 2024 with a single piece of equipment that had been purchased on January 1,2021 , for $33,000 and a truck that had been purchased on January 1,2023 , for $50,000. When the equipment was purchased, SEL's management had estimated that the equipment would have a residual value of $3,000 and a useful life of six years. When the truck was purchased, management determined that it would have a useful life of four years and a residual value of $3,000. On March 31, 2024, SEL sold this piece of equipment for $26,250 cash. On April 12, 2024, SEL purchased replacement equipment with double the capacity for $79,400 cash. SEL's management determined that this equipment would have a useful life of six years and a residual value of $11,000. Prepare all necessary journal entries for the year ended December 31, 2024. Assume that SEL uses the straight-line depreciation method for its equipment and the double-diminishing-balance method for its trucks. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entrv" for the account titles and enter O for the amounts. List all debit entries before credit entries.)