Bears, Inc. bought equipment on Jan. 1 of Year 1 . for $105,000. The equlpment was expecteid to remain in service for seven years with no expected salvage value. Straight-line depreciation is taken on the equipment for four years. On July 1 of Year 5 (..e. during 5 th year of service), Bears sold the equipment for $46,300. Joumalize depreciation under the straight-line method for Year 5 and joumalize the sale of equipment on July 1 of Year 5