Problem 7-8B Record the disposal of equipment (LO7-6) [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 $283,600. The ovens originally cost $378,000, had an estimated service life of 10 years, had an estimated residual value of $23,000, and were depreciated using straight-line depreciation Complete the requirements below for New Deli Problem 7-8B Part 4 4. Record the sale of the ovens at the end of the third year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the disposal of equipment. Note: Enter debits before credits Transaction Debit Credit 1 General Journal Cash Accumulated Depreciation Gain Sales Revenue