1. Shown below are the T-accounts for equipment purchased on January 1, 2020. The equipment was depreciated on a straight-line basis with a useful life of 10 years and a salvage value of $100. Some of the equipment was sold for cash on December 31, 2020. Fill in the missing amounts and then answer parts a-c. a. Show the journal entry to record the purchase of the equipment on January 1. b. Show the journal entry to record the depreciation expense on December 31. Show the journal entry to record the sale of the equipment and the gain on the sale on December 31. C. Cash Dr. Cr. Jan 1 Dec 31 450 Equipment Dr. Cr. Jan 1 1,100 Dec 31 440 Accumulated Depreciation Dr. Cr. Dec 31 31 100 55 Dec 31 40 Depreciation Expense Dr. Cr. Dec 31 Gain on the Disposal Plant Assets (Equipment) Cr. Dr. Dec 31 Dec 31 450