Required Information Problem 7-8A Record the disposal of equipment (L07-6) The following information applies to the questions displayed below) New Moming Bakery is in the process of closing its operations. It sold its two-year old bakery ovens to Great Harvest Bakery for $670,000. The ovens originally cost $877,000, had an estimated service life of 10 years, had an estimated residual value of $57,000, and were depreciated using straight-line depreciation Complete the requirements below for New Moming Bakery Problem 7-8A Part 1 Required: 1. Calculate the balance in the accumulated depreciation account at the end of the second year Accumulated depreciation