On January 1, 2013, Conor Corporation purchased equipment for $350,000. The estimated useful life was ten years with an estimated salvage value of $25,000. Straight-line depreciation is used. At December 31, 2020, accumulated depreciation was $260,000. Conor sold the equipment on April 1, 2021 for $75,000.

Prepare any journal entries necessary to record the sale of the equipment. Assume depreciation is calculated on months of actual usage.