A company has old equipment that originally cost $65,700. The equipment was purchased six years ago, at which time it had an estimated useful life of 10 years and a residual value of $2,500. The straight-line method of depreciation was selected. As of its last year end, December 31, the balance of the asset's accumulated depreciation was $43,610. The equipment was sold on October 1 of the current year for $22,500. Select the correct responses for the following: 1. Current year's depreciation expense for the year of sale: 2. Was there a gain or loss on equipment sale? 3. Amount ($) of the gain or loss on sale: 4 Both a retailer and a supplier use perpetual inventory systems. The retailer purchased inventory on terms of FOB Destination, 2/15 net 45 from its supplier. The next day, the relevant party paid $300 to the shipping company for delivery. A. Which party will pay for shipping costs? + B. What account would be debited when the entry was made