Crane Company owns equipment that cost $$78,000$ when purchased on January $1,2022.$ It has been depreciated using the straight$-$line method based on an estimated salvage value of $$6000$ and an estimated useful life of $5$ years.

Prepare Crane Company$$s journal entries to record the sale of the equipment in these four independent situations. $($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

$($a$)$ Sold for $$37200$ on January $1,2022.$

$($b$)$ Sold for $$37200$ on May $1,2022.$

$($c$)$ Sold for $$13200$ on January $1,2022.$

$($d$)$ Sold for $ $13200$ on October $1,2022$No$.$ Account Titles and Explanation

Debit

Credit

$($a$)$

Accumulated Depreclation$-$Equlpment

Galn on Dlsposal of Plant Assets

$($b$)$ Depreclation Expense

Accumulated Depreclation$-$Equlpment

$($To record depreciation$)$

Accumulated Depreclatlon$-$Equlpment

Gain on Dlsposal of Plant Assets

$($c$)$

$$

ment

Galn on Dlsposal of Plant A$.$ssets

$($To record sale of equipment$)$

Accumulated Depreclation$-$Equlpment

Loss on Dlsposal of Plant Assets

$($d$)$

Depreclation Expense

Accumulated Depreclation$-$Equlpment

$($To record depreciation$)$

Accumulated Depreclation$-$Equlpment

Loss on Dlsposal of Plant Assets

$[$

$($To record sale of equipment$)$