Prepare the journal entry to record sale of part of the equipment on December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31	enter an account title to record sale of part of the equipment on December 31	enter a debit amount	enter a credit amount
	enter an account title to record sale of part of the equipment on December 31	enter a debit amount	enter a credit amount
	enter an account title to record sale of part of the equipment on December 31	enter a debit amount	enter a credit amount
	enter an account title to record sale of part of the equipment on December 31	enter a debit amount	enter a credit amount

What was the gain on disposal?

Gain on Disposal of Plant Assets
		Dec. 31	enter the gain on disposal recorded on December 31

Shown below are the T-accounts relating to equipment that was purchased for cash by a company on the first day of the current year. The equipment was depreciated on a straight-line basis with an estimated useful life of 10 years and a salvage value of $290. Part of the equipment was sold on the last day of the current year for cash proceeds.

Cash
		Jan. 1	(a)
Dec. 31	640

Equipment
Jan. 1	1,290
		Dec. 31	630

Accumulated DepreciationEquipment
		Dec. 31	100
Dec. 31	230

Depreciation Expense