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Faucet Landscaping purchased a tractor at a cost of $ and sold it three years later for $ Faucet recorded depreciation using the straightline method, a fiveyear service life, and a $ residual value. Tractors are included in the Equipment account.
Assume the tractor was sold for $ instead of $ Record the sale. If no entry is required for a particular transactionevent select No Journal Entry Required" in the first account field.
tableNoTransaction,General Journal,Debit,CreditCash,,Accumulated Depreciation,,Loss,,Equipment,
