View Policies Current Attempt in Progress HH Co. purchased equipment at the beginning of 2020 for $42,000 with an estimated residual value of $4,200 that it has depreciated for the past 2 full years using the double diminishing balance method at a rate of 40%. They sold the equipment at the beginning of 2022 for $16,800 cash. Determine the amount of the gain or loss on the disposal of the equipment 3. List of Accounts Question Part Score Prepare the journal entry to record the disposition. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts Account Titles and Explanation List of Accounts Question Part Score Debit Credit -/1