Financial statements for Bernard Corp. are presented below:

BERNARD CORP.Statement of Financial PositionJanuary 1, 2020AssetsCash$160,000Accounts receivable144,000Buildings and equipment600,000Accumulated depreciationbuildings and equipment(200,000)Patents72,000

Total Assets$776,000

Liabilities and EquityAccounts payable$76,000Common shares460,000Retained earnings240,000

Total Liabilities & Shareholders' Equity$776,000

BERNARD CORP.Statement of Cash Flows (indirect method)Year ended December 31, 2020Cash provided by operating activitiesNet income$200,000Add back non-cash expenses:Increase in accounts receivable$ (64,000)Increase in accounts payable32,000Depreciation expense60,000Gainon disposal of equipment(24,000)Amortization of patents8,000

12,000

Cash provided by operating activities212,000Cash provided by (used in) investing activitiesSale of equipment48,000Purchase of land(100,000)Purchase of buildings and equipment(192,000)

Cash used by investing activities(244,000)Cash provided by financing activitiesPayment of cash dividends(60,000)Issuance of common shares160,000

Cash provided by financing activities100,000

Net increase in cash68,000Cash, January 1, 2020160,000

Cash, December 31, 2020$228,000

Total assets on the December 31, 2020 statement of financial position were $1,108,000. Accumulated depreciation on the equipment sold was $56,000.

When the equipment was sold, the Buildings and Equipment account was credited with?