Accounting for asset disposal - do I have to recapture depreciation?

[Ryan Pyle]

When accounting for the disposal of an asset, I'm not sure what to do with the accumulated depreciation and book value of the asset. For example, I replaced the carpet in one of my apartment units. The asset was on the books at $1,010 with a 5 year useful life and $310 of accumulated depreciation. I book depreciation monthly so it is up to date.

To dispose of the asset I created the following journal entry:
CR Carpet $1,010
DR Gain/Loss on Asset Disposal $1,010
CR Recaptured Depreciation $310
DR Accumulated Depreciation $310

Is this correct? I feel like it's not. Hoping to hear from a CPA. Paging @Steve Hamilton II.