Bennett Corporation sold a piece of equipment on June $30,2022$ for $$100,000$ cash. The equipment had been purchased on January $1,2018$ for $$300,000.$ It had an estimated useful life of $10$ years and a $$25,000$ salvage value. Bennett Corp. has been using the straight$-$line method of depreciation and has a yearend of December $31$st$.$

Prepare all necessary journal entries on June $30,2022$ assuming adjusting entries for depreciation expense have been properly recorded through December $31,2021.$

Date Account & Explanation Debit Credit