Cold As Iced Coffee purchased a coffee drink machine on January 1, 2024. for $60,000. Expected useful life is 10 years or 100,000 drinks. In 2024 12,000 drinks w sold, and in 2025, 20.000 drinks were sold Residual value is $10,000 Read the requirements Requirement 3. Assume that Cold As Iced Coffee sold the equipment for $37.000 cash on July 1, 2026. Assume that management has depreciated the equipment by using the double declining-balance method Record Cold As Iced Coffee's depreciation for 2026 and the sale of the equipment on July 1, 2025. (Record Gebits first, then credits Select the explanation on the last line of the journal entry table.) Begin by recording Cold As Iced Coffee's depreciation for 2026 Date Accounts and Explanation Credit 2026 Debit Jul 1 Choose from any list or enter any number in the input fields and then clickCheck Answer 1 Part remaining Clear All Check A