Requlred information Problem 7.8A (AlgO) Record the disposal of equlpment (LO7.6) [The following information applles 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 $620,000. The ovens origlnally cost $822,000, had an estimated service life of 10 years, had an estimated resldual value of $52000, and were depreciated using straightalne deprecation. Complete the requltements below for New Moming Bakery. Problem 7.8A (Algo) Part 2 2. Calculate the book value or the ovens at the end of the second year. Required Information Problem 7-8A (Algo) Record the disposal of equlpment (LO7-6) [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 $620,000. The ovens originally cost $822,000, had an estimated service life of 10 years, had an estimated residual value of $52000, and were depreclated using straight-line depreclation. Complete the requirements below for New Morning Bakery. Problem 7.8A (Algo) Part 3 3. What is the gain or loss on the sale of the ovens at the end of the second year? Required information Problem 7-8A (Algo) Record the dlsposal of equlpment (LO7-6) [The followng information applies to the questions displayed below] New Morning Bakery is in the process of closing its operatlons, It sold its two-year-oid bakery ovens to Great Harvest Bakery for $620,000. The ovens originally cost $822,000, had an estimated service life of 10 years, had an estimated residual value of $52,000, and were depreclated using straight-line depreclation. Complete the requirements below for New Moming Bakery. Problem 7.8A (Algo) 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) Journal entry worksheet