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Sale of Property, Plant, and Equipment

Equipment was purchased on 1/1/x1 at a cost of $40,000, with an estimated salvage value of $4,000 and an estimated life of 6 years. It is being depreciated using the straight line method. Depreciation was last recorded on 12/31/x4. The equipment was sold on 10/1/x5.

a. Prepare the journal entry on 10/1/x5 to bring depreciation up to date.

b. Prepare the journal entry to record the sale assuming the equipment was sold for
1. $24,000.
2. $8,000

Question

Not sure how to start please help?

Sale of Property, Plant, and Equipment

Equipment was purchased on 1/1/x1 at a cost of $40,000, with an estimated salvage value of $4,000 and an estimated life of 6 years.  It is being depreciated using the straight line method.  Depreciation was last recorded on 12/31/x4.  The equipment was sold on 10/1/x5.

 a. Prepare the journal entry on 10/1/x5 to bring depreciation up to date. 

b. Prepare the journal entry to record the sale assuming the equipment was sold for
1.  $24,000.   
2.  $8,000