On January 1,20X7, Wainwrite Corporation sold to Lance Corporation equipment it had purchased for $150,000 and used for eight years. Wainwrite recorded a gain of $15,400 on the sale. The equipment hasa total useful life of 15 years and is depreciated on a straight-line basis. Wainwrite holds 65 percent of Lance's voting common shares. Required: a. Prepare the journal entry made by Wainwrite on January 1, 20X7, to record the sale of equipment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the gain on Equipment. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal