Sold all the old warehouse storage equiptment for $22,000. The warehouse equiptment had a five year life and a salvage value of 4,000. Assume the company uses the straight line method to depreciate warehouse equiptment. (step 1- bring the depreciation up to date by depreciating the warehouse for one month. Step 2- remove the asset and accumulated depreciation and debit cash. Step 3- Plug a realized gain or loss account 701)

Please explain