Blossom Company sells equipment on March $31,2024,$ for $$33,085$ cash. The equipment was purchased on January $5,2021,$ at a cost of $$83,000,$ and had an estimated useful life of five years and a residual value of $$2,400.$ Blossom Company uses straight$-$line depreciation for equipment. Adjusting journal entries are made annually at the company's year end, December $31.$

Prepare the journal entry to record the sale of the equipment. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.$)$

Date Account Titles

Debit

Credit

Mar. $31$

Cash

$33,085$

Accumulated Depreciation $-$ Equipment

$52,390$

Gain on Disposal

Equipment

$83,000$

eTextbook and Media

List of Accounts

Assistance Used

Prepare the journal entry to record the sale of the equipment if Blossom Company received $$26,110$ cash for it$.($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.$)$

Date

Account Titles

Debit

Credit

Mar. $31$

Cash

Accumulated Depreciation $-$ Equipment

Loss on Disposal

Equipment

$83,000$

List of accounts

Accounts Payable

Accumulated Amortization $-$ Copyrights

Accumulated Amortization $-$ Franchises

Accumulated Amortization $-$ Licence

Accumulated Amortization $-$ Patents

Accumulated Amortization $-$ Trademark

Accumulated Depletion $-$ Resource

Accumulated Depreciation $-$ Building

Accumulated Depreciation $-$ Equipment

Accumulated Depreciation $-$ Furniture

Accumulated Depreciation $-$ Land Improvements

Accumulated Depreciation $-$ Vehicles

Advertising Expense

Amortization Expense

Building

Cash

Copyrights

Cost of Goods Sold

Depreciation Expense

Equipment

Franchises

Furniture

Gain on Disposal

Goodwill

Impairment Loss

Indefinite Life Intangibles

Interest Expense

Interest Payable

Interest Receivable

Interest Revenue

Inventory

Land

Land Improvements

Licence

Loss on Disposal

Loss on Fair Value Adjustment of Land

Maintenance Expense

Mortgage Payable

No Entry

Notes Payable

Notes Receivable

Operating Expenses

Other Expenses

Patents

Prepaid Insurance

Property Tax Expense

Repairs Expense

Research Expense

Resource

Trademark

Training Expense

Vehicles