Journal Entries for Depreciation (Alternates are 8-32 and 8-33.) On January 1, 20X1, the Dayton Auto Parts Company acquired nine identical assembly robots for a total of $594,000 cash. The robots had an expected useful life of 10 years and an expected residual value of $54,000 in total. Dayton uses straight-line depreciation. 1. Set up T-accounts and prepare the journal entries for the acquisition and for the first annual depre- ciation charge. Post to T-accounts. 2. On December 31, 20X3, Dayton sold one of the robots for $42,000 in cash. The robot had an origi- nal cost of $66,000 and an expected residual value of $6,000. Prepare the journal entry for the sale. 3. Refer to requirement 2. Suppose Dayton had sold the robot for $52,000 cash instead of $42,000. Prepare the journal entry for the sale.