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Disposal of fixed asset Equipment acquired on January 6 at a cost of $309,100 has an estimated useful life of 7 years and an estimated

image text in transcribed Disposal of fixed asset Equipment acquired on January 6 at a cost of $309,100 has an estimated useful life of 7 years and an estimated residual value of $40,300. a. What was the annual amount of depreciation for Years 1-3 using the straight-line method of depreciation? 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 $184,200, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank. d. Assuming that the equipment had been sold on January 3 of Year 4 for $197,800 instead of $184,200, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank

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