2. the equipment was sold on nov 2,2024 for $56900 cash

Endblast Productions showed the following selected asset balances on December 31, 2023: Land Building Accumulated depreciation, building Equipment Accumulated depreciation, equipment? $400,800 530,400 395,200 173,200 75,400 Remaining estimated useful life is eight years with a residual value of $40,000; depreciated using the straight-line method to the nearest whole month. 2 Total estimated useful life is 10 years with a residual value of $16,000; depreciated using the double-declining-balance method to the nearest whole month. Required: Prepare the entries for each of the following. (Round intermediate calculations to the nearest whole dollar.) 1. The land and building were sold on September 27, 2024, for $593,000 cash.