Disposal of fixed asset Instructions Chart of Accounts First Questions Journal MT Instructions Equipment acquired on January 6 at a cost of $375,000 has an estimated useful life of 20 years and an estimated residual value of $25,000 A. What was the annual amount of depreciation for the Years 1-3 using the staight 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 $300,000 joumatize the entry to record the sale. Refer to the Chart of Accounts for exact wording of account bitles. D. Assuming that the equipment had been sold on January 3 of Year 4 for $325,000 instead of $300,000. journalize the entry to record the sale Refer to the Chart of Accounts for exact wording of account bites