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22 points Equipment was acquired at the beginning of the year at a cost of $79.860. The equipment was depreciated using the straight-line method

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22 points Equipment was acquired at the beginning of the year at a cost of $79.860. The equipment was depreciated using the straight-line method based upon an estimated useful life of 6 years and a residual value of $7.560. The equipment was sold at the end of the first year (after recording depreciation). The sales price was $60,200. Use your answers above to prepare the journal entry for this sale. 5 6 7 B 9 10 Date 31-Dec Description type your answer. Debit type your answer.. Credit type your answer. type your answer. type your answer. type your answer type your answ type your answer,

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