The following information is taken from the accounts of SPA Ltd. Equipment 1 July 2019 200,000 Equipment, 30 June 2020 250,000 40,000 Accumulated depreciation - equipment, 1 July 2019 Accumulated depreciation - equipment, 30 June 2020 50,000 42,000 Depreciation expense - equipment year ended 30 June 2020 9,000 Loss on sale of equipment, year ended 30 June 2020 Cost price of equipment sold during the year 70,000 During the period, the company did not purchase any new equipment. What were the proceeds from the sale of equipment