Equipment acquired at a cost of $126,000 has a book value of $42,000. a. The equipment had no market value and was discarded. b. The equipment is sold for $54,000. C. The equipment is sold for $24,000. Journalize the disposal of the equipment under the assumptions listed above. If an amount box does not require an entry, leave it blank. a. b. Accumulated Depreciation - Equipment Cash Depreciation Expense - Equipment Equipment Gain on Sale of Equipment