The Taurus Group, an IFRS reporter, sold a piece of equipment on December $30$ of the current year for $$250,000$ when the equipment's carrying value was $$290,000.$ Three years ago, the equipment had been revalued to $$500,000.$ At the time of the revaluation, Taurus eliminated all prior accumulated depreciation. It reports a revaluation surplus of $$22,000$ related to the equipment in accumulated other comprehensive income.

Prepare the journal entry required to record the sale of the asset. $($Record debits first, then eredits. Exclude explanations from any journal entries. If no entry is required select $"$No Entry Required" on the first line of the journal entry table and leave all remaining cells in the table blank.$)$

Begin by adjusting the revaluation surplus account, if needed.

$\backslash$table$[[$Account$,$Date of sale$],[,]]$

Prepare the entry to show the sale of the equipment.

$\backslash$table$[[$Account$,$Date of sale,$],[,,],[,,]]$