On July 1, 2014, Winslow Enterprises sold equipment with an original cost of $86,000 for $33,000.

On July 1, 2014, Winslow Enterprises sold equipment with an original cost of $86,000 for $33,000. The equipment was purchased January 1, 2011, and was depreciated using the straight-line method over a five-year useful life with a $9,000 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.) On July 1, 2014, Winslow Enterprises sold equipment with an original cost of $86,000 for $33,000. The equipment was purchased January 1, 2011, and was depreciated using the straight-line method over a five-year useful life with a $9,000 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.)