Problem $7-8$B $($Algo$)$ Record the disposal of equipment $($LO$7-6)$

$[$The following information applies to the questions displayed below.$]$

New Deli is in the process of closing its operations. It sold its three$-$year$-$old ovens to Sicily Pizza for $$287,700.$ The ovens originally cost $$383,500,$ had an estimated service life of $10$ years, had an estimated residual value of $$23,500,$ and were depreciated using straight$-$line depreciation. Complete the requirements below for New Deli.

Problem $7-8$B $($Algo$)$ Part $1$

Required:

Calculate the balance in the Accumulated Depreciation account at the end of the third year.

Accumulated depreciation