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On July 1,2014. Sunland Enterprises sold equipment with an original cost of $80,700 for $31,300....

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Accounting

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On July 1,2014. Sunland Enterprises sold equipment with an original cost of $80,700 for $31,300. The equipment was purchased January 1,2011, and was depreciated using the straight-line method over a five-year usefullife with a $8,600 salvage value. Prepare the journal entry to record the sale of the equipment. (Credit account tilles are outomatically indented when amount is entered. Do not indent manually.)

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