Blossom Limited purchased delivery equipment on March 1, 2016, for $132,500 cash. At that time, the equipment was estimated to have a useful life of five years and a residual value of $9,860. The equipment was disposed of on November 30, 2018. Blossom uses the diminishing-balance method at one times the straight-line depreciation rate, has an August 31 year end, and makes adjusting entries annually. Record the acquisition of equipment on March 1, 2016. (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.) Date Account Titles and Explanation Debit Credit Mar. 1 Record depreciation at August 31, 2016, 2017, and 2018. (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. Round answers to o decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit Aug. 31, 2016 Aug. 31, 2017 Aug. 31, 2018 Record the disposal of the equipment on November 30, 2018, under each of the following independent assumptions: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round answers to o decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) 1. 2. It was sold for $54,720. It was sold for $87,620. It was retired for no proceeds. 3. No. Date Account Titles and Explanation Debit Credit Nov. 30 (To record depreciation on equipment disposed) (1) Nov. 30 Record the disposal of the equipment on November 30, 2018, under each of the following independent assumptions: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round answers to 0 decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) 1. 2. It was sold for $54,720. It was sold for $87,620. It was retired for no proceeds. 3. No. Date Account Titles and Explanation Debit Credit Nov. 30 (To record depreciation on equipment disposed) (1) Nov. 30 (2) Nov. 30 (3) Nov. 30