Required information Problem 7-8A Record the disposal of equipment (L07-6) {The following information applies to the questions displayed below.) New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $690,000. The ovens originally cost $899,000, had an estimated service life of 10 years, had an estimated residual value of $59,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. Problem 7-8A Part 4 4. Record the sale of the ovens at the end of the second 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 1 > Record the sale of ovens. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal