The following information is known in relation to the sale of equipment during the year. The equipment was sold solely for cash Beginning balance in equipment was $100,000 and ending balance in equipment was $60,000. No equipment was purchased during the year. Beginning balance in accumulated depreciation was $50,000 and ending balance in accumulated depreciation was $35,000. The income statement showed Depreciation Expense for $10,000. The income statement showed a gain on the sale of equipment of $5,000. How much cash was received from the sale? Hint: record the journal entry from the sale of the equipment using the information given to determine cash received.