Problem 7-8A (Algo) Record the disposal of equipment (LO7.6) [The following information applies to the questions displayed below] New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $590,000. The ovens originally cost $789,000, had an estimated service life of 10 years, had an estimated residual value of $49,000, and were depreciated using straight-line depreciation. Complete the requirements below fol New Morning Bakery. Problem 7-8A (Algo) Part 4 4. Record the sale of the ovens at the end of the second year. (If no entry is required for a transaction/event, select "No Jour Entry Required" in the first account field.) Journal entry worksheet