Brown Company purchased equipment in 2010 for $150,000 and estimated a $10 ,000 salvage value at the end of the equipment's 10-year useful life. At December 31, 2016, there was account for this equipment using the straight-line method of depreciation. On March 31, 2017, the equipment was sold for $40,000 r equipment from the books of Brown Company on March 31, 2017. (Credit account titles are automatically indented when the Prepare the appropriate journal entries to remove the amount is entered. Do not indent manually.) 2. (To record sale of equipment at a loss)