Depreciation by two methods; sale of fixed asset New tire retreading equipment, acquired at a cost of $843,750 on September 1 at the beginning of a fiscal year, has an estimated useful life of 5 years and an estimated residual value of $72,600. The manager requested information regarding the effect of alternative 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 $123,600. b. Double-declining-balance method Year Depreciation Expense 1 2 S 3 4 5 Accumulated Depreciation, End of Year Book Value, End of Year $ $ $ $ 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. Account Debit Credit 3. Journalize the entry to record the sale, assuming that the equipment was sold for $106,100 instead of $123,600. If an amount box does not require an entry, leave it blank. Account Debit Credit