Equipment acquired at a cost of $126,000 has a book value of $42,000. The equipment had no market value and was discarded. The equipment is sold for $54,000. The equipment is sold for $24,000....

Equipment acquired at a cost of $126,000 has a book value of $42,000.

1. The equipment had no market value and was discarded.


2. The equipment is sold for $54,000.


3. The equipment is sold for $24,000.

Journalize the disposal of the equipment under the assumptions listed above.