Sweet Corporation owns machinery that cost $25,200 when purchased on July 1, 2017. Depreciation has been recorded at a rate of $3,024 per year, resulting in a balance in accumulated depreciation of $10,584 at December 31, 2020. The machinery is sold on September 1, 2021, for $13,230.

Prepare journal entries to:

(a) update depreciation for 2021

(b) record the sale.

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