Current Attempt in Progress Crane Company owns equipment that cost $85,000 when purchased on January 1, 2019. It has been depreciated using the straight- line method based on an estimated salvage value of $25,000 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 for the amounts.) (a) (b) Sold for $50,000 on January 1, 2022. Sold for $50,000 on May 1, 2022. Sold for $21,000 on January 1, 2022. Sold for $21,000 on October 1, 2022. (c) (d) No. Account Titles and Explanation Debit Debit Credit (a) Depreciation Expense Accumulated Depreciation Equipment Gain on Disposal of Plant Assets Equipment (b) Depreciation Expense Accumulated Depreciation-Equipment (To record depreciation) Cash Accumulated Depreciation-Equipment Gain on Disposal of Plant Assets Equipment (To record sale of equipment) (c) Cash Accumulated Depreciation Equipment Loss on Disposal of Plant Assets Equipment (d) Depreciation Expense Accumulated Depreciation Equipment (To record depreciation) Cash Accumulated Depreciation-Equipment Loss on Disposal of Plant Assets Equipment (To record sale of equipment)