Required information M9-10 Reporting and Recording the Disposal of a Long-Lived Asset (Straight-Line Depreciation) (LO 0-5] The following information applies to the questions displayed below As part of a major renovation at the beginning of the year, Atlase Pharmaceuticals, Inc. sold shelving units recorded as Equipment that were 10 years old for $1310 cash. The shelves originally cost $8.440 and had been depreciated on a straight line basis over an estimated useful life of 10 years with an estimated residual value of $740 M9-10 Part 1 1. Complete the table below. Indicating the account amount and direction of the effect on disposal. Assume that depreciation has been recorded to the date of sale Enter any decreases to Assets Liabilities, or Stockholders' Equity with a minus sign. Do not round Intermediate calculations.) Stockholder's Equity M9-10 Reporting and Recording the Disposal of a Long-Llved Asset (Straight-Line Depreciation) [LO 9-5] [The following Information applies to the questions displayed below] As part of a major renovation at the beginning of the year, Atlase Pharmaceuticals, Inc. sold shelving units (recorded as Equipment that were 10 years old for $1.310 cash. The shelves originally cost $8.440 and had been deprecated on a straight-line basis over an estimated useful life of 10 years with an estimated residual value of $740. M9.10 Part 2 2 Prepare the journal entry to record the sale of the Shelving units. If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field. Do not round Intermediate calculations.) View transaction list Journal entry worksheet Record the sale of the shelving units for $1,310 tenter bits bone credits Transaction General Journal