Crane Company owns equipment that cost $123,000 when purchased on January 2,2024 . It has been depreciated using the straightline method based on estimated residual value of $3,000 and an estimated useful life of five years. Following are the four independent situations. Prepare Crane Company's journal entry to record the sale of the equipment for $53,900 on May 1, 2027. (Credit account titles are automatically indented when the amocht is entered. Do not indent monually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)