[The following information applies to the questions displayed below.) As part of a major renovation at the beginning of the year, Atiase Pharmaceuticals, Incorporated, sold shelving units (recorded as Equipment) that were 10 years old for $1,400 cash. The shelves originally cost $8,800 and had been depreciated on a straight-line basis over an estimated useful life of 10 years with an estimated residual value of $800. M9-10 (Algo) Part 2 2. Prepare the journal entry to record the sale of the shelving units. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet Record the sale of the shelving units for $1,400. Note: Enter debits before credits Transaction 1 Cash General Journal Debit Credit Accumulated Depreciation-Equipment Gain on Disposal of PPE Equipment View general journal Record entry Clear entry