DISPOSAL AND EXCHANGE OF PLANT ASSETS Journalize the disposal on December 31 of equipment under each of the following circumstances. The old equipment had a cost of $90,000 and was depreciated over 6 years using the straight-line method with no salvage value. (590,000/6 years = $15,000 annual depreciation) A. Record the discarding of equipment after its 6 year of life. Dec 31 Asset Reocived Asset (BV) Given Up Equipment 90,000 Accumulated Depreciation B. Record the discarding of the equipment at the end of the 4th year. Dec 31 1 Asset Received Asset (BV) Given Up Equipment 90,000 Accumulated Depreciation C. Record the sale of the equipment at the end of the 4th year for $22,000. Dec 31 Asset Received Asset (BV) Given Up Equipment 90,000 Accumulated Depreciation D. Record the sale of the equipment at the end of the 4th year for $42,000. Dec 31 Asset Received Asset (BV) Given Up Equipment 90,000 Accumulated Depreciation