M8-8 (Static) Recording the Disposal of a Long-Lived Asset (Straight-Line Depreciation) LO8-5 As part of a major renovation at the beginning of the year, Bonham's Bakery sold shelving units (store fixtures) that were 10 years old for $1,800cosh. The original cost of the shelves was $6,500 and they had been depreciated on a straight-line bosis over an estimated useful life of 12 years with an estimated residual value of $800 Record the sale of the shelving units. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account fleld. Journal entry worksheet Record the sale of the sheiving units. Note: Enter debits before credits