On 1/1/21, Gumshoe Corp. purchased machinery for $50,000. The machinery had an estimated useful life of 10 years and no residual value. Gumshoe uses the straight-line method for depreciation. On 1/1/24, Gumshoe decides to sell the asset for $32,000 Required: What journal entry should Gumshoe record for the sale of its machinery? Remember to include financial statement effects in parentheses. Date Account Debit Credit 1/1/24