ACC220 Lab #2-Winter 2022 Question 5 of 7 -/16 The following are some transactions of Wildhorse Company for 2021. Wildhorse Company uses straight-line depreciation and has a December 31 year end Apr. 1 July 301 Nov 1 Retired a piece of equipment that was purchased on January 1.2012 for $50,000. The coupment had an expected uneful life of 10 years with no residual value Sold equipment for $1,300 cash. The equipment was purchased on January 3, 2019, for $13.320 and was depreciated over an expected useful life of three years with no residual value Traded in an old vehicle for a new vehicle, receiving a $10,000 trade-in allowance and paying $34,000 The al vehicle had been purchased on November 1, 2015, at a cost of $34.500. The estimated useful life was right yein and the estimated residual value was $6.700. The fair value of the old vehicle was $9,200 on November 1.2021 For each of these disposals, prepare a journal entry to record depreciation from January 1, 2021. to the date of disposat required. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required select "No Entry" for the account titles and enter O for the amounts Record journal estries in the order presented in the problem Date Account Titles and Explanation To record depreciation expense) Debit Credit 2249 -1C Mostly doudy D