Check my work Howarth Manufacturing Company purchased equipment on June 30, 2017, at a cost of $82,000. The residual value of the equipment was estimated to be $7000 at the end of a five-year life. The equipment was sold on March 31, 2021, for $15,000. Howarth uses the straight line depreciation method for all of its plant and equipment. Partial year depreciation is calculated based on the number of months the asset is in service. Required: 1. Prepare the journal entry to record the sale 2. Assuming thn Howarth had instead used the double-declining balance method, prepare the journal entry to record the sale. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assuming that Howarth had instead used the double-declining-balance method, prepare the journal entry to record the sale. (If no entry is required for a transaction/event, select "No journal entry required in the nint account hield) View transaction ist View journal entry worksheet Debit Credit No 1 Ever 1 General Journal Cash Accumulated depreciation equipment Gain on sale of equipment Equipment