Peabody Company purchased equipment on January 1, 2024, for $40,000. Suppose Peabody Company sold the equipment for $18,000 on December 31, 2025. Accumulated Depreciation as of December 3 2025, was $17,000. Journalize the sale of the equipment, assuming straight-line depreciation was used SEED 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)

Market vatue of assets received Leas book viuh of wier depored of Cost Lest Aorumulated Depreciation Cuinor (Low)