(a) Alfie Corp. purchased equipment on January 2, 20x2 for $80,000 and estimated an $8,000 residual value at the end of the equipment's 10-year useful life. Alfie uses the straight-line method and has a December 31 year-end. On March 31, 20x9, the equipment was sold for $21,000. Prepare the appropriate journal entries for depreciation expense for the period Jan 1 to March 31, 20x9 and to remove the equipment from the books on March 31, 20x9. (b) The Jerome Company purchased a machine on December 31, 20x2 at a cost of $750,000. Transportation and installation costs amounted to $20,000 and $30,000 respectively. The machine's residual value is expected to be $200,000. Management is unsure as to what depreciation method to use and wants to know what the annual depreciation expense would be in 20x3 and 20x4 under the following methods: Diminishing balance method at the rate of 20%. ii. Units of production method. Assume a total useful life of 1,200,000 hours and that 150,000 and 175,000 hours are expected to be used in 20x3 and 20x4 respectively