Brown Company purchased equipment in 2014 for $150,000 and estimated a $10,000 salvage value at the end of the equipment's 10-year useful life. At December 31, 2020, there was $98,000 in the Accumulated Depreciation account for this equipment using the straight-line method of depreciation On March 31, 2021, the equipment was sold for $40.000. Prepare the appropriate journal entries to remove the equipment from the books of Brown Company on March 21, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account eicles and enter for the amounts. No. Account Titles and Explanation Debit Credit 1. (To record depreciation expense for the first 3 months of 2021) 2. (To record sale of equipment at a loss) e Textbook and Media Finney Company sold a machine for $15,000. The machine originally cost $35,000 in 2018 and $8,000 was spent on a major overhaul in 2021(charged to the Equipment account). Accumulated Depreciation on the machine to the date of disposal was $28.000 Prepare the appropriate journal entry to record the disposition of the machine. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Account Titles and Explanation Debit Credit e Textbook and Media Stanley Company sold office equipment that had a book value of $12,000 for $16,000. The office equipment originally cost $40.000 and it is estimated that it would cost $50,000 to replace the office equipment. Prepare the appropriate journal entry to record the disposition of the office equipment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and entero for the amounts.) Account Titles and Explanation Debit Credit