Practice Exercise 9-3 Goo-Yeong Limited sells equipment on September 30, 2018, for $42,000 cash. The equipment originally cost $144,000 when purchased on January 1, 2016. It has an estimated residual value of $4,000 and a useful life of five years. Depreciation was last recorded on December 31, 2017, the company's year end. Prepare the journal entry to record the sale no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) the equipment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If Account Titles and Explanation Debit Credit x. Cash 42000 42000 Accumulated Depreciation Equipment Loss on Disposal .. . Equipment