Brown Corporation sold a piece of equipment on June 30, 2020 for $150,000 cash. The equipment had been purchased on January 1, 2016 for $450,000. It had an estimated useful life of 7 years and a $30,000 salvage value. Brown Corp. has been using the straight-line method of depreciation and has a year- end of December 31st. Prepare all necessary journal entries on June 30, 2020 assuming adjusting entries for depreciation expense have been properly recorded through December 31, 2019. 7 A BI I !!! Debit Credit Date Account & Explanation