Parker Company purchased equipment on January 1, 2024, for $33,000. Suppose Parker Company sold the equipment for $3,000 on December 31, 2025. Accumulated Depreciation as of December 31, 2025, was $18,000. Journalize the sale of the equipment, assuming straight-line depreciation was used. First, calculate any gain or loss on the sale of the equipment. (Enter a loss with a minus sign or parentheses.) Market value of assets received Less: Book value of asset disposed of Cost Less: Accumulated Depreciation Gain or (Loss) Now, journalize the sale of the equipment. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Check your spelling carefully and do not abbreviate.) Date Dec. 31 Accounts and Explanation Debit Credit