Ivanhoe Company sold equipment that had a book value of $36,450 for $40,500. The equipment originally cost $121,500 and it is estimated that it would cost $153,900 to replace the equipment. Prepare the appropriate journal entry to record the disposition of the equipment. (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 ente O for the amounts Account Titles and Explanation Debit Credit Cash 29700 Accumulated Depreciation Equipment 54000 Gain on Disposal of Plant Assets Equipment e Textbook and Media List of Accounts Solution