Metro Graphic Design purchased equipment on January 1, 2024, for $32,036. Suppose Metro Graphic Design sold the equipment for $23,000 on December 31, 2025. Accumulated Depreciation as of December 31, 2025, was $14,238. Journalize the sale of the equipment, assuming straight-line depreciation was used. First, calculate any gain or loss on the disposal of the equipment. Market value of assets received Less: Book value of asset disposed of Cost Less: Accumulated Depreciation Gain or (Loss) Now, journalize the sale of the equipment. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 31