(a) Faster Company purchased equipment in 2010 for $104,000 and estimated an $8,000 salvage value at the end of the equipment's 10-year useful life. At December 31, 2016, there was $67,200 in the Accumulated Depreciation account for this equipment using the straight-line method of depreciation. On March 31, 2017, the equipment was sold for $21,000. Required: Prepare the appropriate journal entry to record the sale of the equipment on the books of Faster Company on March 31, 2017. Hint: before doing the journal entry on March 31, 2017, you need to first record depreciation expense for the 3 months of January 1, 2017 - Match 31, 2017 to update the balance of the accumulated depreciation through March 31, 2017, (b) Lewis Company sold equipment for $11,000. The equipment originally cost $25,000 in 2014 and $6,000 was spent on a major overhaul in 2017 (charged to the Equipment account). Accumulated Depreciation on the equipment to the date of disposal was $20,000. Required: Prepare the appropriate journal entry to record the disposition of the equipment. Hint: because the $6,000 spent on a major overall was added to the equipment, the equipment account has a balance of $17,000. (c) Selby Company sold equipment that had a book value of $13,500 for $15,000. The equipment originally cost $45,000 and it is estimated that it would cost $57,000 to replace the equipment. Required: Prepare the appropriate journal entry to record the sale of the equipment. Hint: the $57,000 cost to replace the equipment is not informtion relevant to doing the journal entry