Allyn Company purchased equipment costing $55,000 on January 1, Year 1. The equipment is estimated to have a salvage value of $5,000 and an estimated useful life of 5 years. Straight-line depreciation is used, and all depreciation has been recorded as of December 31, Year 4. If the equipment is sold on December 31, Year 4 for $20,000, What is the journal entry to record the sale?