[The following information applies to the questions displayed below.] A company purchased a tractor at a cost of $33,000 and sold it three years later for $16,500. The company recorded depreciation using the straight-line method, a five-year service life, and a $2,000 residual value. Tractors are included in the Equipment account. Exercise 7-17B Part 1 Required:

1. Record the sale. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)