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14. Pond Scum Creamery sold ice cream equipment for $15,200. Pond Scum originally purchased the equipment for $88,000, and depreciation through the date of sale

14. Pond Scum Creamery sold ice cream equipment for $15,200. Pond Scum originally purchased the equipment for $88,000, and depreciation through the date of sale totaled $70,000.

Record the gain or loss on the sale of the equipment. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

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