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Required information Problem 7-8A (Algo) Record the disposal of equipment (LO7-6) [The...

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Accounting

Required information
Problem 7-8A (Algo) 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 oven's to Great Harvest Bakery for $590,000. The ovens originally cost $789,000, had an estimated service life of 10 years, had an estimated residual value of $49,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery.
Problem 7-8A (Algo) Part 1
Required:
Calculate the balance in the accumulated depreciation account at the end of the second year.
Accumulated depreciation
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