Current Attempt in Progress

On July $1,2014,$ Crane Enterprises sold equipment with an original cost of $$107,900$ for $$42,500.$ The equipment was purchased January $1,2011,$ and was depreciated using the straight$-$line method over a five$-$year useful life with a $$11,800$ salvage value. Prepare the journal entry to record the sale of the equipment. $($Credit account titles are automatically indented when amount is entered. Do not indent manually.$)$

Account Titles and Explanation

Debit

Credit

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