Marks Construction Company purchased equipment costing $45,000 on January 1, Year 1. The equipment is estimated to have a salvage value of $5,000 and an estimated useful life of 8 years. Straight-line depreciation and the calendar year are used. If the equipment is sold on July 1, Year 5 for $20,000, prepare the journal entry to record the sale. What is the journal entry for depreciation on the equipment from year one to five?