Part 1 of 4 1 points eBook Print References Problem 7-8A (Algo) Record the disposal of equipment (LO7-6) [The following information applies to the questions displayed below.] New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $640,000. The ovens originally cost $844,000, had an estimated service life of 10 years, had an estimated residual value of $54,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. Problem 7-8A (Algo) Part 1 Required: 1. Calculate the balance in the accumulated depreciation account at the end of the second year. Accumulated depreciation

Problem 7.8A (Algo) Record the disposal of equipment (LO7.6) [The following information applies to the questions displayed below.] New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $640,000. The ovens originally cost $844,000, had an estimated service life of 10 years, had an estimated residual value of $54,000, and wete depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. Problem 7-8A (Algo) Part 1 Required: 1. Calculate the balance in the accumulated depreciation account at the end of the socond year