Carla Vista uses the diminishing-balance method at one times the straight-line depreciation rate. Carla Vista Limited purchased delivery equipment on March 1, 2019 for $128.750 cash. At that time, the equipment was estimated to have a useful life of five years and a residual value of $10,150. The equipment was disposed of on November 30, 2021. Carla Vista uses the diminishing-balance method at one times the straight-line depreciation rate has an August 31 year end, and makes adjusting entries annually. (a) Your answer is correct. Record the acquisition of equipment on March 1, 2019. (List all debit entries before credit entries. Credit account tities 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.) Date Account Titles and Explanation Credit Debit Mar 1 Equipment 128750 Cash 128750 e Textbook and Media Record depreciation at August 31, 2019 2020 and 2021. (List all debit entries before credit entries. 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. Round answers to decimal places, es. 5,275.) Date Account Titles and Explanation Debit Credit Aug 31, 2019 Depreciation Expense 12875 Accumulated Depreciation Equipment 12875 Aug. 31, 2020 Depreciation Expense 23175 Accumulated Depreciation Equipment 23175 Aug. 31, 2021 Depreciation Expense 18540 Accumulated Depreciation Equipment 18540 Record the disposal of the equipment on November 30, 2021, under each of the following independent assumptions: (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record Journal entries in the order presented in the problem. Round answers to decimal places, e.g. 5.275. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) 1 2. It was sold for $65.830 It was sold for $72.930. It was retired for no proceeds 3. No. Date Account Titles and Explanation Debit Credit Nov. 30 Depreciation Expense 5510 Accumulated Depreciation - Equipment 551 (To record depreciation on equipment disposed) || DATE (1) Nov 30 Cash Accumulated Depreciation - Equipment Loss on Disposal