Depreciation by Two Methods; Sale of Fed Asset New retreading equipment, acquired at a cost of $875.000 on September 1 at the beginning of a fiscal year has an estimated We of five years and an estimated residual value of 175.000 manager requested information regarding the effect of strative methods on the amount of depreciation expense each year. On the basis of the data presented to the manager, the double declining balance method was selected In the first week of the fifth year, on September 6, the equipment was sold for $128.100. Required 1. Determine the annual depreciation expense for each of the estimated four years of use, the accumulated depreciation at the end of each year, and the book value of the equipment at the end of each year by the following methods: a. Straight-line method Depreciation Accumulated Depreciation, End of Year Book Value End of Year b. Double doctring balance method Depreciation Accumulated Depreciation Book Value of Yes 2. Journalize the entry to record the sale, assuming double-declining-balance method is used. If an amount box does not require an entry, leave it blank. 3. Journalize the entry to record the sale in (2), assuming that the equipment was sold for $110,000 instead of $128,100. If an amount box does not require an entry, leave it blank