Required information [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 $700,000. The ovens originally cost $910,000, had an estimated service life of 10 years, had an estimated residual value of $60,000, and were depreciated using straight-line depreciation Complete the requirements below for New Morning Bakery Required: 1. Calculate the balance in the accumulated depreciation account at the end of the second year. Accumulated depreciation $ 740,000 Required information (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 $700,000. The ovens originally cost $910,000, had an estimated service life of 10 years, had an estimated residual value of $60,000, and were depreciated using straight-line depreciation. Complete the requirements below fe New Morning Bakery - Calculate the book value of the ovens at the end of the second year. Book value Required information [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 $700,000. The ovens originally cost $910,000, had an estimated service life of 10 years, had an estimated residual value of $60,000, and were depreciated using straight-line depreciation Complete the requirements below for New Morning Bakery . What is the gain or loss on the sale of the ovens at the end of the second year? Bakery for $700,000. The ovens originally COSE DY 10,00U, nau an esumated service ile or iv years, nau an esumare residual value of $60,000, and were depreciated using straight-line depreciation. Complete the requirements below New Morning Bakery 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 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