The Taurus Group sold a piece of equipment on December 30 of the current year for $ 250,000 when the equipment’s carrying value was $ 290,000. Three years ago, the equipment had been revalued to $ 500,000. At the time of the revaluation, Taurus eliminated all prior accumulated depreciation. It reports a revaluation surplus of $ 22,000 related to the equipment in accumulated other comprehensive income. Prepare the journal entry required to record the sale of the asset.