Record all journal entries for 2017:

On June 30, 2017, Tail Co sold equipment for $131,000. The equipment was purchased Jan 1, 2014 for $164,000. Tail used the double declining balance method for this asset. Salavage value is set at $20,000 with an estimated useful like of 7 years. Payment received included $16,000 cash and the buyer's note for the remainder of the balance. The note requires equal annual principal payments over 5 years from the date, together with interest at 8%. Additionally, depreciation expense for 2017 of $180,000, related to other depreciable assets of $2,804,000 is appropriate and should be recorded.