3. Counselors of Tucker purchased equipment on January 1, 2017, for $38,000. Counselors of Tucker expected the equipment to last for seven years and have a residual value of $3,000 Suppose Counseis of Tucer ld e equipment for $29,400 on December 31, 2018 after using the equipment for two full years. Assume depreciation for 2018 has been recorded. Joumalize the sale of the equipment assuming straight-ine depreciaon w d First, caloulate any gain or loss on the disposal of the equipment Markel value of assels received Less: Book value of asset disposed of Cost Less: Acoumulated Depreciation Gain or 0.0ss) Select the explanation on the last ine of the joumal entry tble) Now, joumalize the sale of the equipment (Record debils frst then creds Credit Debit Accounts and Explanation Date Dec 31 Choose from any nt or enter any number in the input feids and then continue to the next