Ivanhoe Company purchased equipment in 2020 for $260,000 and estimated an $20,000salvage value at the end of the equipment's 10-year useful life. At December 31, 2021, there was $168,000 in the Accumulated Depreciation account for this equipment using the straight-line method of depreciation. On March 31, 2022, the equipment was sold for $52,500. Prepare the appropriate journal entries to remove the equipment from the books of IvanhoeCompany on March 31, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

No.	Account Titles and Explanation	Debit	Credit
1.	enter an account title to record depreciation expense for the first 3 months of 2014	enter a debit amount	enter a credit amount
	enter an account title to record depreciation expense for the first 3 months of 2014	enter a debit amount	enter a credit amount
	(To record depreciation expense for the first 3 months of 2022)
2.	enter an account title to record sale of equipment	enter a debit amount	enter a credit amount
	enter an account title to record sale of equipment	enter a debit amount	enter a credit amount
	enter an account title to record sale of equipment	enter a debit amount	enter a credit amount
	enter an account title to record sale of equipment	enter a debit amount	enter a credit amount
	(To record sale of equipment)