The balance sheets of Tully Corp. showed the following at December 31, 2017, and 2016:

	December 31, 2017			December 31, 2016
Equipment, less accumulated depreciation of $86,200 at December 31, 2017, and $53,875 at December 31, 2016.	$	65,800		$	98,125

c-2. Assume that the equipment is sold on December 31, 2017, for $53,200. Record the journal entry for sale of the equipment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Journal entry worksheet

• Record the sale of the equipment.

Note: Enter debits before credits.

Event	General Journal	Debit	Credit
1