As part of a major renovation at the beginning of the year, Atiase Pharmaceuticals, Inc., sold shelving units (recorded as Equipment) that were 10 years old for $860 cash. The shelves originally cost $6,640 and had been depreciated on a straight-line basis over an estimated useful life of 10 years with an estimated residual value of $440.

1.

Complete the table below, indicating the account, amount, and direction of the effect (+ for increase and ? for decrease) for the disposal. Assume that depreciation has been recorded to the date of sale. (Do not round intermediate calculations. Enter all amounts as positive values.)

Assets	Liabilities	Stockholders Equity

2.	Prepare the journal entry to record the sale of the shelving units. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) Record the sale of the shelving units for $860.