Blossom Limited purchased delivery equipment on March 1, 2016, for $133,750 cash. At that time, the equipment was estimated to have a useful life of five years and a residual value of $10,800. 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 disposal of the equipment on November 30, 2018, under each of the following independent assumptions: select "No Entry" for the account titles and enter o for the amounts.) It was sold for $62,870. It was sold for $82,920. 3. It was retired for no proceeds. 1. 2. Debit Credit No. Date Account Titles and Explanation Nov. 30 (To record depreciation on equipment disposed) (1) Nov. 30 (2) Nov. 30 (3) Nov. 30