12. On January 1, 2018, Shehata Coffee Shop (SCS) acquired kitchen equipment for $31,800 cash. SCS estimated a $1,200 residual value and an estimated useful life of 4 years. SCS uses straight-line depreciation computed monthly. On July 1, 2021, the company sold the equipment for $5,700 cash. Required: a. Calculate the annual Depreciation Expense; show your work, 1.5 points b. Provide the journal entry to record the sale, show your work, 6 points