On April 30, 2024, Wilson Company sold a used piece of manufacturing equipment for $6,500. The equipment had been purchased on January 1, 2021, for $50,000. The equipment was estimated to have a useful life of four years, with a residual value of $2,000. The equipment had been depreciated using the straight-line method.

Record the journal entry associated with the sale of the equipment on April 30, 2024