7 Part 2 of 2 Required information Problem 7-8A Record the disposal of equipment (LO7-6) [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 $500,000. The ovens originally cost $690,000, had an estimated service life of 10 years, had an estimated residual value of $40,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery 1 points Problem 7-8A Part 4 Print 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.) References View transaction list Journal entry worksheet