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The following information applies to the questions displayed below) Abbott Landscaping purchased a tractor at a cost of $35,000 and sold it three years later

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The following information applies to the questions displayed below) Abbott Landscaping purchased a tractor at a cost of $35,000 and sold it three years later for $17,500. Abbott recorded depreciation using the straight-line method, a five year service life, and a $2.000 residual velue. Tractors are included in the Equipment account 0 value 1000 points Required information Required 1. Record the sale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the sale of equipment. Note: Enter debits before credits General Journal Debit Credit Record entry Clear entry View general journal

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