Prepare the journal entry to record the disposal and subsequent gain or loss on the transaction below: On July 31, 2018, Golden Moth Chemical Company sold a piece of equipment that is used in its operations for $202,000. The equipment was originally purchased for $850,000 and has accumulated depreciation of $642,000. (Assume accumulated depreciation has already been brought up to date.) Prepare the journal entry in the space below to record the disposal and subsequent gain or loss