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L Limited acquired an item of equipment on 1 July 2019 for $105000. The estimated useful life of the equipment at the acquisition date was

L Limited acquired an item of equipment on 1 July 2019 for $105000. The estimated useful life of the equipment at the acquisition date was 5 years and the residual value was $5000. The company sold the equipment on 30 June 2021 for $75000. Assuming the company uses the straight-line depreciation method, what is the journal entry to record the sale

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