cted view. Enable Editing Question Four: (4 Points) Assume that on January 1, 2020, Stream's purchased Equipment for $110,000 cash, expecting the equipment to remain in service for 5 years. Stream's has depreciated the equipment according to the straight-line method, with $10,000 estimated residual value. On July 1st, 2022, Stream's sold the equipment for $44,000. Required: 1. Record in the journal the depreciation expense (adjusting entry) of the equipment on December 31, 2020, and December 31,2021. 2. Record in the journal the depreciation expense of the equipment on July 1st, 2022. 3. Record in the journal the sale of the equipment on July 1st, 2022 (Compute the gain or loss on Stream's disposal of the equipment). The