Required information Problem 7.8A (Algo) Record the disposal of equipment (LO7.6) The following information applies to the questions disployed below:] New Morning Bakery is in the process of closing its opetations. It sold its two-yeat old bakery ovens to Great Harvest Bakery for $680,000. The ovens otiginally cost $888,000, had an estimated service life of 10 years, had an estimated residual value of $58,000, and were depreciated using straight tine depreciation, Complete the requitements below for New Morning Bakery Problem 7.8A (Algo) Part 1 Required: 1. Calculate the balance in the accumulated depreciation account at the end of the second year