Karley Company sold equipment on July 1, 2017 for $75,000. The equipment had cost $210,000 and had $120,000 of accumulated depreciation as of January 1, 2017 Depreciation for the first 6 months of 2017 was $12,000 Instructions Prepare the joumal entry to record the sale of the equipment If there is a gain or loss show how you computed the gain or loss