Gunkelson Company sells equipment on September 30, 2017, for $18,400 cash.

The equipment originally cost $73,700 and as of January 1, 2017, had accumulated depreciation of $42,500. Depreciation for the first 9 months of 2017 is $4,950.

Prepare the journal entries to (a) update depreciation to September 30, 2017, and (b) 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 0 for the amounts.)