Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $220,000 has an estimated useful life of years and an estimated residual value of $28,800. a. What was the annual amount of depreciation for the Years 1-3 using the straight line method of depreciation? Depreciation Expense Year 1 Year Year 2 Year 3 b. What was the book value of the equipment on January 1 of Year 47 c. Assuming that the equipment was sold on January 3 of Year 4 for $101,400, journalize the entry to record the sale. 17 an amount box does not require an entry, leave it blank. Jan 3 Il d. Assuming that the equipment had been sold on January 3 of Year 4 for $151,800 instead of $141,400, Joumalize the entry to record the sale. If an amount box does not require an entry, leave it blank Jan. Previous Check My Work Save and Edit Submit Assignment for Grading