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Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $164,200, has an estimated useful life of 7 years and an estimated

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Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $164,200, has an estimated useful life of 7 years and an estimated residual value of $21,400. 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 Year 2 Year 3 b. What was the book value of the equipment on January 1 of Year 4? c. Assuming that the equipment was sold on January 3 of Year 4 for $97,900, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank. llll d. Assuming that the equipment had been sold on January 3 of Year 4 for $105,100 instead of $97,900, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank. 1110 1110

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