Answer the 3 questions

Suppose that on January 1 Sunbeam Travel Company paid cash of $50,000 for equipment that is expected to remain useful for four years. At the end of four years, the equipment's value is expected to be zero. Read the fequirements 1. Make journal entries to record (a) purchase of the equipment on January 1 and (b) annual depreciation on December 31. Include dates and explanations, and use the following accounts: Equipment; Accumulated Depreciation Equipment; and Depreciation Expense-Equipment. 1a. Record the purchase of the equipment. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journal Entry Date Accounts and Explanation Debit Credit Jan ? Choose from any list or enter any number in the input fields and then click Check Answer. 1. Ma on De Accur X piatic Requirements on 1a. R the la 1. Make journal entries to record (a) the purchase of the equipment on January 1 and (b) annual depreciation on December 31. Include dates and explanations, and use the following accounts: Equipment; Accumulated Depreciation Equipment; and Depreciation Expense-Equipment. 2. Post to the accounts and show their balances at December 31. 3. What is the equipment's book value at December 31? Jit Jan Print Done