Davis Co. purchased equipment in 2008 for $150,000 and estimated a $10,000 salvage value at the end of the equipments 10 year useful life.

At December 31, 2014 there was $98,000 in the Accumulated Depreciation account for this equipment using the straight-line method of depreciation.

On March 31, 2015 the equipment was sold for $40,000.

Indicate the accounts that are increased and/or decreased to remove the equipment from the books of Davis Co. on March 31, 2015.