Jolie Company owns equipment with a cost of $85,500 and accumulated depreciation of 76,200. Required: Prepare the

Question:

Jolie Company owns equipment with a cost of $85,500 and accumulated depreciation of 76,200.
Required:
Prepare the journal entry to record the disposal of the equipment on April 9 assuming:
1. Jolie sold the equipment for $11,200 cash.
2. Jolie sold the equipment for $7,900 cash?