BOOK New lithographic equipment, accured at a cost of $625,000 on March 1 of Year 1 (beginning of the fiscal year), has an estimated useful life of five years and an estimated residual value of $53,700. The manager requested formation regarding the effect of alternative methods on the amount of deprecation expense each year. On March 4 of Year 5, the equipment was sold for $91,500 Required: 1. Determine the annual depreciation expense for each of the estimated five years of use, the accumulated depreciation at the end of each year, and the book value of the equipment at the end of each year by the following methods: a. Straight line method Depreciation Accumulated Depreciation, took Value Year Expense End of Year End of Year 1 4 to Double- dance method Depreciation Expense Accumulated Depreciation End of Year Book Value End of Year Year h. Double-declining balance method Depreciation Expense Accumulated Depreciation, End of Year Year Hook Value, End of Year 1 2 3 4 5 2. Joumalize the entry to record the sale assuming that the manager chose the double declining-balance method. If an amount box does not require an entry, leave it blank 3. Journalize the entry to record the sale in (2) assuming that the equipment was cold for $78,600 instead of 391,500 an amount box does not require an entry, leave it blanke eBook 2 3 4 5 2. Journalize the entry to record the sale assuming that the manager chose the double declining balance method. If an amount box does not require an entry, leave it blank 3. Journalize the entry to record the sale in (2) assuming that the equipment was sold for $78,600 instead of 591500. If an amount box does not require an entry, leave it blank