Brown's Salvage Company purchased equipment on January 1, 2024, for $23,793. Suppose Brown's Salvage Company sold the equipment for $17,000 on December 31, 2025. Accumulated Depreciation as of December 31, 2025, was $8,652. Journalize the sale of the equipment, assuming straight-line depreciation was used. First, calculate any gain or loss on the disposal of the equipment. Market value of assets received Less: Book value of asset disposed of Cost Less: Accumulated Depreciation Gain or (Loss) (8,652)