April 1: retired a piece of equipment that was purchased Jan 1 2008 for 48,000. The equipment had an expected life of 10 yrs with no residual value. July 30: Sold equipment for #1, 125 cash. It was purchased on Jan. 3^rd for 13, 500 and was depreciated over an expected useful life of 3 years no residual value. November 1: Trader in an old vehicle for a new one 10,000 trade in allowance and paying 36,000 cash. The 39, 560. The estimate useful life was 8 years and residual value was 5,000. The fair value on the old vehicle was 9,000. For each three disposals prepare a Journal Entry to record depreciation if required record disposal next. April 1: retired a piece of equipment that was purchased Jan 1 2008 for 48,000. The equipment had an expected life of 10 yrs with no residual value. July 30: Sold equipment for #1, 125 cash. It was purchased on Jan. 3^rd for 13, 500 and was depreciated over an expected useful life of 3 years no residual value. November 1: Trader in an old vehicle for a new one 10,000 trade in allowance and paying 36,000 cash. The 39, 560. The estimate useful life was 8 years and residual value was 5,000. The fair value on the old vehicle was 9,000. For each three disposals prepare a Journal Entry to record depreciation if required record disposal next