Brief Exercise 7-35 Disposal of an Operating Asset Jolie Company owns equipment with a cost of $85,500 and accumulated depreciation of 76,200. Required: Prepare the journal entry to record the disposal of the equipment on April 9 assuming: 1. Jolie sold the equipment for $11,200 cash. If an amount box does not require an entry, leave it blank. Apr. 9 2. Jolie sold the equipment for $7,900 cash. If an amount box does not require an entry, leave it blank. Apr. 9