M9-10 (Algo) Reporting and Recording the Disposal of a Long-Lived Asset (Straight-Line Depreciation) [LO 9-5] (The following information applies to the questions displayed below.) As part of a major renovation at the beginning of the year, Atiase Pharmaceuticals, Incorporated, sold shelving units (recorded as Equipment) that were 10 years old for $1,250 cash. The shelves originally cost $8,200 and had been depreciated on a straight-line basis over an estimated useful life of 10 years with an estimated residual value of $700. M9-10 (Algo) Part 1 Required: 1. Complete the accounting equation below, indicating the account, amount, and the effect of disposal. Assume that depreciation has been recorded to the date of sale. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign. Do not round intermediate calculations.) Assets Liabilities < Prev 7 B of 10 Next > Stockholders' Equ