Boulika Limited Presented here are selected transactions for 2020. The company uses straight-line depreciation and adjusts its accounts annually. Instructions: Record the transactions. When there is more debit or credit account, enter accounts in alphabetical orde Jan 1,2020: Sold equipment for $2,000 cash. The equipment was purchased on January 1, 2014 for $2,000, and was depreciated based on a 10-year useful life with a $400 residual value. . 40 Oct 1,2020: Sold for $200 cash a computer that was purchased on January 1, 2018 for $1,000. Computer had a useful life of five years with no residual value. Record the depreciation expense Record the equipment disposal