New Deli is in the process of closing its operations. It sold its three$-$year$-$old ovens to Sicily Pizza for $$320,500.$ The ovens originally cost $$427,500,$ had an estimated service life of $10$ years, had an estimated residual value of $$27,500,$ and were depreciated using straight$-$line depreciation. Complete the requirements below for New Deli.

$4.$ Record the sale of the ovens at the end of the third year