Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $298,100, has an estimated useful life of 9 years and an estimated residual value of $38,900 a What was the annual amount of depreciation for the Years 1 3 using the straight line method of depreciation Year Depreciation Expense Year 1 $fill in the blank 8da04af4603af7f 1 Year 2 $fill in the blank 8da04af4603af7f 2 Year 3 $fill in the blank 8da04af4603af7f 3 b What was the book value of the equipment on January 1 of Year 4 $fill in the blank 8da04af4603af7f 4 c Assuming that the equipment was sold on January 3 of Year 4 for $201,100, journalize the entry to record the sale If an amount box does not require an entry, leave it blank Accounts PayableCashDepreciation Expense EquipmentEquipmentGain on Sale of EquipmentCash Cash Cash Accounts ReceivableAccumulated Depreciation EquipmentDepreciation Expense EquipmentEquipmentGain on Sale of EquipmentAccumulated Depreciation Equipment Accumulated Depreciation Equipment Accumulated Depreciation Equipment Accounts PayableDepreciation Expense EquipmentEquipmentGain on Sale of EquipmentLoss on Sale of EquipmentLoss on Sale of Equipment Loss on Sale of Equipment Loss on Sale of Equipment Accumulated Depreciation EquipmentCashEquipmentGain on Sale of EquipmentLoss on Sale of EquipmentEquipment Equipment Equipment Feedback d Assuming that the equipment had been sold on January 3 of Year 4 for $215,900 instead of $201,100, journalize the entry to record the sale If an amount box does not require an entry, leave it blank CashDepreciation Expense EquipmentEquipmentGain on Sale of EquipmentLoss on Sale of EquipmentCash Cash Cash Accounts PayableAccumulated Depreciation EquipmentDepreciation Expense EquipmentEquipmentLoss on Sale of EquipmentAccumulated Depreciation Equipment Accumulated Depreciation Equipment Accumulated Depreciation Equipment Accumulated Depreciation EquipmentCashDepreciation Expense EquipmentEquipmentLoss on Sale of EquipmentEquipment Equipment Equipment Accumulated Depreciation EquipmentCashDepreciation Expense EquipmentGain on Sale of EquipmentLoss on Sale of EquipmentGain on Sale of Equipment Gain on Sale of Equipment Gain on Sale of Equipment

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Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $298,100, has an estimated useful life of 9 years and an estimated

Disposal of Fixed Asset

Equipment acquired on January 6 at a cost of $298,100, has an estimated useful life of 9 years and an estimated residual value of $38,900.

a. What was the annual amount of depreciation for the Years 1-3 using the straight-line method of depreciation?

Year	Depreciation Expense
Year 1	$fill in the blank 8da04af4603af7f_1
Year 2	$fill in the blank 8da04af4603af7f_2
Year 3	$fill in the blank 8da04af4603af7f_3

b. What was the book value of the equipment on January 1 of Year 4? $fill in the blank 8da04af4603af7f_4

c. Assuming that the equipment was sold on January 3 of Year 4 for $201,100, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank.

Accounts PayableCashDepreciation Expense-EquipmentEquipmentGain on Sale of EquipmentCash	Cash	Cash
Accounts ReceivableAccumulated Depreciation-EquipmentDepreciation Expense-EquipmentEquipmentGain on Sale of EquipmentAccumulated Depreciation-Equipment	Accumulated Depreciation-Equipment	Accumulated Depreciation-Equipment
Accounts PayableDepreciation Expense-EquipmentEquipmentGain on Sale of EquipmentLoss on Sale of EquipmentLoss on Sale of Equipment	Loss on Sale of Equipment	Loss on Sale of Equipment
Accumulated Depreciation-EquipmentCashEquipmentGain on Sale of EquipmentLoss on Sale of EquipmentEquipment	Equipment	Equipment

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d. Assuming that the equipment had been sold on January 3 of Year 4 for $215,900 instead of $201,100, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank.

CashDepreciation Expense-EquipmentEquipmentGain on Sale of EquipmentLoss on Sale of EquipmentCash	Cash	Cash
Accounts PayableAccumulated Depreciation-EquipmentDepreciation Expense-EquipmentEquipmentLoss on Sale of EquipmentAccumulated Depreciation-Equipment	Accumulated Depreciation-Equipment	Accumulated Depreciation-Equipment
Accumulated Depreciation-EquipmentCashDepreciation Expense-EquipmentEquipmentLoss on Sale of EquipmentEquipment	Equipment	Equipment
Accumulated Depreciation-EquipmentCashDepreciation Expense-EquipmentGain on Sale of EquipmentLoss on Sale of EquipmentGain on Sale of Equipment	Gain on Sale of Equipment	Gain on Sale of Equipment