Your arower is partially correct Sandhill Co. sells office equipment on July 31, 2022, for $23,500 cash. The office equipment originally cost $75,000 and as of January 1,2022, had accumulated depreciation of $41.850. Depreciation for the first 7 months of 2022 is $3.850 Prepare the journal entries to (a) update depreciation to July 31, 2022, and (bl record the sale of the equipment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) No. Account Titles and Explanation Debit Credit 3850 (a) Depreciation Expense Accumulated Depreciation-Equipment (b) Cash 23500 Accumulated Depreciation Equipment 45700 Loss on Disposal of Plant Assets 5880 75060 Equipment CAPM AOTORE