Penington Company purchased equipment on January 1, 2018, for $26,000. Suppose Penington Company sold the equipment for $1,000 on December 31, 2019. Accumulated Depreciation as of December 31, 2019, was $15,000. 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)