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Record the sale

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Reference no: EM131641476

Problem - Abbott Landscaping purchased a tractor at a cost of $36,000 and sold it three years later for $18,000. Abbott 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.

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

Reference no: EM131641476

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