Beka Company owns equipment that cost $58,400 when purchased on January 1, 2008. It has been depreciated using the straight-line method based on estimated salvage value of $3,870 and an estimated useful life of 5 years.
Sold for $33,718 on January 1, 2011.

First you have to calculate 3 years of depreciation. So take your cost minus your salvage value to get your depreciable base. Then take your depreciable base and divide it by 5 to get your depreciation per year. Now take your depreciation times 3 to get your accumulated depreciation amount.

Your accounts to journalize the transaction will be cash, equipment, accumulated depreciation, and either a gain on sale or a loss on sale. Just plug-in the amounts for the accounts you know with the appropriate debit or credit, then solve for the missing amount, which will either be a debit to loss on sale or a credit to gain on sale.