Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $251,200, has an estimated useful life of 7 years and an estimated residual value of $32,800. a. What was the annual amount of depreciation for the Years 1-3 using the straight-line method of depreciation? Year Year 1 Year 2 Year 3 Depreciation Expense b. What was the book value of the equipment on January 1 of Year 47 Feedback c. Assuming that the equipment was sold on January 3 of Year 4 for $149,700, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank. Cash Accumulated Depreciation-Equipment Loss on Sale of Equipment Equipment Feedback . Assuming that the equipment was sold on January 3 of Year 4 for $149,700, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank. Cash Accumulated Depreciation-Equipment Loss on Sale of Equipment Equipment Feedback . Assuming that the equipment had been sold on January 3 of Year 4 for $160,800 instead of $149,700, journalize the entry to record the sale. If an amount box does mot require an entry, leave it blank. Cash Accumulated Depreciation-Equipment Equipment Gain on Sale of Equipment Feedback Feedback