Answer ASAP plz

On January 2, Year 1 , Jenkins. Company purchased equipment costing $18,600, with an estimated salvage value of $1,000 and an estimated useful ife of 12 years. On December 31, Year 8, Jenkins Company sold the equipment to Used Machine Company for $6,948. Required: Prepare the journal entry to record the sole of the asset. Note: Assume that Jenkins Company uses the straightilne depreciation method and that depreciation has already been recorded for the current yeat