Please record the following transaction:

Company has disposal of equipment. The original cost was $50M and it had a net book value of $30M at the time of disposal. Record the disposal transaction with respect to the balance sheet and income statement:

Here's the tricky part. There's no account for gain/loss on disposal of equipment. These are the following accounts you can use for the entry. Only use these accounts and state the cash increase/decrease for whichever account is relevant:

Balance Sheet:

Assets: Cash, Allowance for doubtful accounts, inventory, equipment, Accumulated Depreciation

Liabilities: Accounts Payable, Deferred Revenue, Accrued Expenses, Operating Lease Liability

S/E: Common Stock, Additional paid in capital, Retained Earnings

State the increase/decrease for these accounts relevant to this disposal transaction on the income statement:

Revenues

Expenses

Net Income