The following information applies to the questions displayed below) New Moming Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $530,000. The ovens originally cost $723,000, had an estimated service life of 10 years, and an estimated residual value of $43,000 New Morning Bakery uses the straight-line depreciation method for all equipment Required information value 10.00 points Required: 1. Calculate the balance in the accumulated depreciation account at the end of the second year Accumulated depreciation References eBook & Resources Worksheet Difficulty: 3 Hard Learning Objective: 07-06 Account for the disposal of long-term assets Chery work Required information value 10.00 points 2. Calculate the book value of the ovens at the end of the second year Book value 3. What is the gain or loss on the sale of the ovens at the end of the second year? 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.) View transaction list Journal entry worksheet Record the sale of ovens. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal