#2 Bernardino purchased equipment on January 1, 2016 for $120,000 and estimated a $10,000 residual value at the end of the equipment's 10-year useful life. At December 31, 2022, there was $77,000 in the Accumulated Depreciation account for this equipment using the straight-line method of depreciation. On March 31, 2024, the equipment was sold for $28,000. Prepare the appropriate journal entries to record the disposition of the property, plant, and equipment assets, assuming that Bernardino's fiscal year end is December 31 and that Bernardino only prepares financial statements and adjusts the accounts annually. Hint-bring accum depn up to date (selling date)