On January 2, Year 1, Thomas Company purchased equipment costing $42,600, with an estimated salvage value of $2,100 and an estimated useful life of 9 years. On December 31, Year 4, Thomas Company sold the equipment to Used Machine Company for $23,439. Required: Prepare the journal entry to record the sale of the asset. Note: Assume that Thomas Company uses the straight-line depreciotion method and that depreciation has already been recorded for the current year