Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $183,500, has an estimated useful life of 7 years and an estimated residual value of $23,900. a. What was the annual amount of depreciation for the Years 1-3 using the straight-line method of depreciation Year Depreciation Expense Year Year 2 Year 3 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 $109,300, Journalize the entry to record the sale. If an amount box does not require an entry, leave it blank Cash Accumulated Depreciation-Equipment 1110 III) Loss on Sale of Equipment Equipment Fe CheckMy Wor d. Assuming that the equipment had been sold on January 3 of Year 4 for $117.400 instead of $109,300, Journalize the entry to record the sale. If an amount box does not require an entry, leave it blank Cash Accumulated Depreciation-Equipment Equipment Gain en Sale of Equipment 101 Toda