Cullumber Company owns equipment that cost $52,000 when purchased on January 2,2024 . It has been depreciated using the straight-line method based on estimated residual value of $4,000 and an estimated useful life of five years. Following are the four independent situations. Prepare Cullumber Company's journal entry to record the sale of the equipment for $26,600 on May 1, 2027. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. 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.)