An asset acquired January 1, 2021, for $15,600 with an estimated 10-year life and no residual value is being depreciated in an equipment group asset account that has an average service life of eight years. The asset is sold on December 31, 2022, for $5,400. The entry to record the sale would be: Cash Accumulated depreciation Equipment $5,4001 $10, 2001 $15,600 Cash Loss on sale of equipment Equipment $5,400 $19,200 $15,600 Cash Equipment $5, 4ee $5,400 Cash Accumulated depreciation Loss on sale of equipment $5,400 $3,900 $6,300 enn Broadway Ltd. purchased equipment on January 1, 2019, for $720,000, estimating a six-year useful life and no residual value. In 2019 and 2020, Broadway depreciated the asset using the straight-line method. In 2021, Broadway changed to sum-of-years'- digits depreciation for this equipment. What depreciation would Broadway record for the year 2021 on this equipment? (Do not round your depreciation rate.) Multiple Choice $240.000 $120,000 $96.000 $192.000. G Cutter Enterprises purchased equipment for $51,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $4,200. Using the sum-of-the-years-digits method, depreciation for 2022 and book value at December 31, 2022, would be: (Do not round depreciation rate per year) Multiple Choice $13,600 and $20.400 respectively, $13,600 and $16,200 respectively. $12.480 and $22,920 respectively. $12.480 and 518 720 respectively. G