ABC Corporation has a piece of equipment that cost $500,000 and was placed in service on January 1, 2015. ABC has adopted a straight-line method of depreciation. This piece of equipment has no residual value and has a useful life of 10 years. Prepare the journal entries required for each of the following independent situations as of July 1, 2019: a. The equipment is discarded as having no value. b. The equipment is sold for $350,000. c. The equipment is sold for $225,000 d. The equipment is traded in on similar equipment having a list price of $650,000. A $250,000 trade-in allowance is given