Brief Exercise 7-7 Your answer is partially corect. Try again Prepare tabular summeries to record these transections. (If a transaction causes a decrease in Assets, Liabilities or Stockholders Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) (a) Blossom Company retires its delivery equipment, which cost $40,000. Accumulated depreciation is also $40,000 on this delivery equipment. No salvage value is received. (b) Assume the same information as in part (a), except that accumulated depreciation for the equipment is $36,000 instead af 40,000 Assets Liabilities Stockholders' Equity Retained Earnings Cash + Equipment -Accum. Depr.-Equip. +Common Stock +Rcvenuc Ex Expense Dividend Bal Asscts = Liabilities + Stockholders' Equity Retained Earnings Cash Eqipment Accum. Depr. - Equip. - + Common Stock+ Revenue ExpenseDividend Bal Loss on disposal