Problem 7-8A Record the disposal of equipment (LO6) 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 $500,000. The ovens originally cost $690,000, had an estimated service life of 10 years, and an estimated residual value of $40,000. New Morning Bakery uses the straight-line depreciation method for all equipment