Can you help me with this assignment pls? Thank you!

The Hill Company purchased some equipment at July 1, 2018, for $16,000. Hill also paid freight costs $1,500 and sales tax $500 in addition. Hills fiscal year starts from January 1. Upon receipt, the following expenditures were incurred in 2018:

Major repair prior to use: $1,000

Installation: $600

Testing prior to use: $400

Operating costs after start of production: $1,500

Minor repair and maintenance after start of production: $500

The company adopted a straight-line depreciation method and estimated that the useful life of the equipment to be ten years from July 1, 2018. Hill expects that the salvage value of the equipment will be $2,000 at the end of the useful life.

Required:

1) Determine the total depreciable value of the equipment, i.e., the total amount that will be depreciated over the life of the equipment.

2) Determine the book value of the equipment at December 31, 2018.

3) Hill received an offer to sell the equipment at January 1, 2019. If Hill sold the equipment for $23,000 in cash, what journal entry would they record for the sale of the equipment? No entry explanation is required.