On July 1, 2014, Cullumber Enterprises sold equipment with an original cost of $72,200 for $27,800. The equipment was purchased January 1, 2011, and was depreciated using the straight-line method over a five-year useful life witha $7,600 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.)