The following information was provided in the 2014 10-K report of

Golden Enterprises, Inc.

Note 10: Land, Buildings and Equipment

May 30, 2014May 31, 2013

Property, plant, and equipment, Gross, Total. . . . . . . . . . .May 30, 2014:$95,174,198 May 31,2013:$93,022,443

Less: Accumulated depreciation . . . . . . . . . . . . . . . . . . . ..May 30, 2014: $69,502,854 May 31,2013: $65,927,389

Property, plant, and equipment, Net, Total. . . . . . . . . . . . .May 30, 2014 :$25,671,344 May 31,2013:$27,095,054

The companys statement of cash ows, including the reconciliation of net income to cash from

operations, provided the following information for the year ended May 30, 2014:

Depreciation expense was $3,778,563.

Purchases of property, plant, and equipment were $2,380,287.

Proceeds from the sale of property, plant, and equipment were $48,125.

REQUIRED

Using this information, prepare a journal entry to record the sale of property, plant, and equipment