Book Calculator Depreciation by two methods; sale of fixed asset Instructions Chart of Accounts Starting questions Journal Instructions Now lithographic equipment, acquired at a cost of $940,000 on March 1 of Year 1 (beginning of the fiscal year), has an estimated soul life of five years and an estimated residual value of $105,750. The manager requested information regarding the effect of alternative methods on the amount of depreciation expense each year. On March 4 of Year 5, the equipment was sold for $151,924 Required: 1. Determine the annual depreciation expense for each of the estimated five years of use, the accumulated deprecation at the end of each year, and the book value of the equipment at the end of each year by (a) the straight line method and (b) the double dening balance method Round your answers to the nearest whole dollar 2. Journalize the entry to record the sale assuming that the manager chose the double declining-balance method Accounts for exact wording of accounts Chart of Accounts