Worksheet Difficulty: 3 Hard Problem 7-8A Part 3 Leaming Objective: 07-06 Account for the disposal of long-term assets. 17. Award: 0.25 out of 0.50 points You did not receive full credit for this question in a Problem 7-8A Part 4 4. Record the sale of the ovens at the end of the second year. (If no entry is required for a transactionlevent, select "No journal entry required" in account field.) No Credit General Journal Transaction Cash Accumulated depreciation LOSS Equipment Debit 10.900 19,800 4,300 $ 35,000 Problem 7-8A Record the disposal of equipment (L07-6) 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 $700,000. The ovens originally cost $910,000, had an estimated service life of 10 years, and an estimated residual value of $60,000. New Morning Bakery uses the straight-line depreciation method for all equipment References Section Break Problem 7-8A Record the disposal of equipment (L07-6) You received credit for this question in a previous attempt 14. Award: 0.50 out of 0.50 points Problem 7-8A Part 1 Required: 1. Calculate the balance in the accumulated depreciation account at the end of the second year. Accumud 170,000 MacBook