On July 1, 2014, Crane Enterprises sold equipment with an original cost of $70,500 for $27,100. The equipment was purchased January 1, 2011, and was depreciated using the straight-line method over a five-year useful life with a $7,400 salvage value. Prepare the journal entry to record the sale of the equipment. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Cash Accumulated Depreciation Office Equipment Gain on Disposal of Plant Assets 27100