Question - Tong company sells office equipment on September 30, 2004, for 20,000 in cash. The office equipment originally cost $72,000 and as of January 1, 2004, had accumulated depreciation of $42,000. Depreciation for the first nine months of 2004 is $4,500. Prepare the journal entries to update depreciation to September 30, 2004 and record the sale of the equipment?