Beka Company owns equipment that cost $50,000 when purchased on January 1, 2007. It has been depreciated using the straight-line method based on estimating salvage value of $5,000 and an estimated useful life of 5 years. Instructions Prepare Beka Companys journal entries to record the sale of the equipment in these four independent situations. Sold for $20,000 on January 1, 2010. Sold for $28,000 on May 1, 2010. Sold for $11,000 on January 1, 2010. Sold for $11,000 on October 1, 2010