Robert Sporting Goods Company had purchased some equipment (Q107) on January 1, 2014 for $104 000 with an estimated salvage value of$8 000 and a 10-year useful life. On December 31, 2020, there was $67 200 in the Accumulated Depreciation account for this equipmentusing the straight-line method of depreciation. In preparation for expansion, on March 31, 2021, that equipment was sold for $21 000.

Prepare the necessary journal entries to record the disposal of the equipment on March 31, 2021.