GTO Company purchased a piece of equipment a few years ago at a cost of $16,000. Assume the Company uses Straight Line Depreciation resulting in an annual depreciation expense of $2,880. At the beginning of this current year, this equipment shows $7,360 of Accumulated Depreciation. Record the journal entry to record the Cash Sale of this Equipment for $6,800 on March 1 of this current year. First: Calculate the Current Year Partial-Year Depreciation.