Required information Problem 7-8B Record the disposal of equipment (L07-6) (The following information applies to the questions displayed below.) New Deli is in the process of closing its operations. It sold its three-year-old ovens to Sicily Pizza for $275,400. The ovens originally cost $367,000, had an estimated service life of 10 years, had an estimated residual value of $22,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Deli. Problem 7-8B Part 1 Required: 1. Calculate the balance in the accumulated depreciation account at the end of the third year. Accumulated depreciation Required information Problem 7-8B Record the disposal of equipment (L07-6) [The following information applies to the questions displayed below.) New Deli is in the process of closing its operations. It sold its three-year-old ovens to Sicily Pizza for $275,400. The ovens originally cost $367,000, had an estimated service life of 10 years, had an estimated residual value of $22,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Deli. Problem 7-8B Part 2 2. Calculate the book value of the ovens at the end of the third year. Book value Required information Problem 7-8B Record the disposal of equipment (L07-6) [The following information applies to the questions displayed below.) New Deli is in the process of closing its operations. It sold its three-year-old ovens to Sicily Pizza for $275,400. The ovens originally cost $367,000, had an estimated service life of 10 years, had an estimated residual value of $22,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Dell. Problem 7-8B Part 3 3. What is the gain or loss on the sale of the ovens at the end of the third year? Required information Problem 7-8B Record the disposal of equipment (L07-6) (The following information applies to the questions displayed below) New Dell is in the process of closing its operations. It sold its three-year-old ovens to Sicay Pizza for $275,400. The avens originally cost $367,000, had an estimated service life of 10 years, had an estimated residual value of $22.000, and were depreciated using straight-line depreciation. Complete the requirements below for New Dell. Problem 7-8B Part 4 4. Record the sale of the ovens at the end of the third year (if no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction lit Journal entry worksheet > 1 Record the disposal of equipment Note: Enter debits before credits Dobit Credit General Journal Transaction lournal