company sold used equipment for $$560,000$ cash. The equipment was purchased five years ago for the cost of $$930000.$ it has been depreciated using straight line method over an estimated useful life of $10$ years with an estimated residual value of $$115000$Prepare the journal entry at the end of year five for assets disposable assuming the $50$ years depreciation had been recorded Note: if no$,$ entry is required for transit action$/$event$,$ select no journal entry required in the first account fieldGeneral journal options: no journal entry required, accounts, payable, accounts, receivable, accumulated depreciation, additional paid in capital, allowance for uncollectible accounts, amortization expense, building, cash, common stock, depreciation, expense, equipment, gain of disposal, interest, expense, inventories, land, loss on sale, notes, payable, notes receivable, patent $,$ repair and maintenance expense, trucksUsing the info provided create a journal entry worksheet Transactions General journal Debit credit $01.$ Accumulated depreciation. $?????$ Gain on disposal. $???$ First transaction start with accumulated depreciation And do not use equipmentSecond transaction start with gain on disposal and do not use cash