On January 1, 2015, Conor Corporation purchased equipment for $260,000. The estimated useful life was ten years with an estimated salvage value of $10,000. Straight-line depreciation is used. At December 31, 2022, accumulated depreciation was $200,000. Conor sold the equipment on April 1, 2023 for $65,000.

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