The SOS company bought equipment for $100,000 at the beginning of an accounting year. The equipment is depreciated to a residual value of $10,000 using straight-line depreciation. The depreciation life of the equipment is 10 years. The equipment is sold in 7 years and 3 months for $40,000. Complete journal entries to update depreciation (since the end of the accounting period prior to the sale) to the date of sale. The accounting period is one year. Depreciation Accumulated Dep. To receive credit, answers are to the nearest dollar with comma separators and no decimal points ( 10000.49 should be reported as 10,000 and 10000.51 as 10,001 )