The Tanners Inc. sold some of its equipment for $15,000. Originally, the equipment was purchased for $38,000, and accumulated depreciation through the date of sale totaled $25,000. 1. What was the loss or gain on the sale of Tanners' 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 the first account field.) View transaction list Journal entry worksheet