Company sold a flight equipment for $$15$ million cash at the end of its ${17}^{th}$ year of use. The flight equipment originally cost $$75\mathrm{.}5$ million and was depreciated using the straight$-$line method with $$0\mathrm{.}5$ million residual value and a useful life of $25$ years.

Prepare the journal entry to record the sale of the equipemnt at the end of the ${17}^{th}$ year.