Wildhorse Company owns equipment that cost $$48,000$ when purchased on January $2,2024.$ It has been depreciated using the straight$-$line method based on estimated residual value of $$6,000$ and an estimated useful life of five years. Following are the four independent situations. Assume depreciation has been recorded to the date of sale. Prepare Wildhorse CompanVs journal entry to record the sale of the equipment for $$4,700$ on October $1,2027.$