Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $193,200 has an estimated useful life of 7 years and an estimated residual value of $25,200. a. What was the annual amount of depreciation for 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 4? c. Assuming that the equipment was sold on January 3 of Year 4 for $115,100, journalize the entry to record the sale. If an amount box does not require an entry, le it blank. d. Assuming that the equipment had been sold on January 3 of Year 4 for $123,600 instead of $115,100, journalize the entry to record the sale. If an amount box do not require an entry, leave it blank.

Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $193,200 has an estimated useful life of 7 years and an estimated residual value of $25,200. a. What was the annubl amount of depreciation for Years 1-3 using the straight-line method of depreciation? b. What was the book valje of the equipment on January 1 of Year 4 ? c. Assuming that the equipment was sold on January 3 of Year 4 for $115,100, fournalize the entry to record the sale. If an amount box does not require an entry, it blanki d. Assuming that the equipment had been sold on January 3 of Year 4 for $123,600 instead of $115,100, Journalize the entry to record the sale, If an amount box do not require an entry, leave it blank. Equipment acquired on January 6 ot a cost of $193,200 has an estimated useful life of 7 years and an estimated residual value of $25,200. a. What was the annual amount of depreciotion for Years 13 using the straight-ine 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 $115,100, fournalize the entry to recerd the sale. If an ampunt box does not require an entry, lea it blank: d. Assuming that the equipment had been sold on January 3 of Year 4 for $123,600 instead of $115,100, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank