The Bomb Pop Corporation sold ice cream equipment for $18,500. The equipment was originally purchased for $40,000, and depreciation through the date of sale totaled $25,000. 1. What was the gain or loss on the sale of the equipment? on sale 2. Record the sale of the equipment. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the sale of the equipment. Note: Enter debits before credits. Transaction General Journal Debit Credit