5. Accrual Based Accounting - Adjusting Journal Entries (AJES)-2pts On April 1, 2022, Gumball, Inc. purchases equipment for $3,000 in cash. The equipment has a five-year useful life and is expected to have a salvage value of $0 at the end of its useful life. Assume that Gumball, Inc. uses the straight-line depreciation method (i.e. the cost of the equipment is allocated evenly over its useful life). Assume the balances of the "Equipment" account and the "Accumulated Depreciation - Equipment" account as of 4/1/2022 were $0 and there are no other transactions. a. Record the journal entry that the firm should record on April 1, 2022 when it purchased the equipment. b. Record the necessary adjusting journal entry (AJE) at December 31, 2022, for Gumball, Inc. Assume the firm uses an annual accounting period which ends on December 31" and adjusting entries are only made at the end of the accounting period on December 31. No adjusting entries for 2022 have been recorded yet. c. What is the Net Book Value of the equipment as of 12/31/2022 (after AJES are made)? d. What is the Net Book Value of the equipment as of 12/31/2025 (after AJES are made)?