This question has 4 parts. Thanks in advance for any guidance.

rk Saved Saved Required information Problem 7-8A Record the disposal of equipment (L07-6) [The following information applies to the questions displayed below.) New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery avens to Great Harvest Bakery for $580,000. The ovens originally cost $778,000, had an estimated service life of 10 years, had an estimated residual value of $48,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery Problem 7-8A Part 1 Required: 1. Calculate the balance in the accumulated depreciation account at the end of the second year. Accumulated depreciation Required information Problem 7-8A Record the disposal of equipment (L07-6) [The following information applies to the questions displayed below) New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $580,000. The ovens originally cost $778,000, had an estimated service life of 10 years, had an estimated residual value of $48,000, and were depreciated using straight-line depreciation Complete the requirements below for New Morning Bakery Problem 7-8A Part 2 2. Calculate the book value of the ovens at the end of the second year. Book value Saved Required information Problem 7-8A Record the disposal of equipment (L07-6) [The following information applies to the questions displayed below.) New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $580,000. The ovens originally cost $778,000, had an estimated service life of 10 years, had an estimated residual value of $48,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. Problem 7-8A Part 3 3. What is the gain or loss on the sale of the ovens at the end of the second year? Saved Help work Required information Problem 7-8A Record the disposal of equipment (L07-6) [The following information applies to the questions displayed below) New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $580,000. The ovens originally cost $778,000, had an estimated service life of 10 years, had an estimated residual value of $48,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery Problem 7-8A Part 4 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 that Journal entry worksheet Record the sale of ovens. Note: Enter debits before credits View transaction list Journal entry worksheet