Disposal of an Operating Asset

Jolie Company owns equipment with a cost of $$315,000$ and accumulated depreciation of $$192,150.$

Required:

Prepare the journal entry to record the disposal of the equipment on April $9$ assuming:

Jolie sold the equipment for $$133,900$ cash. If an amount box does not require an entry, leave it blank.

Apr. $9$

Gain on Disposal of Property, Plant, and Equipment $$

Equipment $$

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$2.$ Jolie sold the equipment for $$114,300$ cash. If an amount box does not require an entry, leave it blank.

Apr. $9$

Loss on Disposal of Property, Plant, and Equipment $$