E 1 2 3 4 Equipment acquired on January 8 at a cost of $212,000 has an estimated useful life of 15 years, has an estimated residual value of $14,000, and is depreciated by the straight-line method. Instructions First Question a. What was the book value of the equipment at December 31 the end of the fifth year? b. Assuming that the equipment was sold on April 1 of the sixth year for $105,800, journalize the entries to record (1) depreciation for the three months until the sale date, and (2) the sale of the equipment. Refer to the Chart of Accounts for exact wording of account titles. a. What was the book value of the equipment at December 31 the end of the fifth year? $ b. Assuming that the equipment was sold on April 1 of the sixth year for $105,800, journalize the entries to record the following (refer to the Chart of Accounts for exact wording of account titles): Journal 1. Depreciation for the three months until the sale date. 1 2 2. The sale of the equipment. DATE DATE DESCRIPTION DESCRIPTION JOURNAL JOURNAL POST. REF. POST. REF. DEBIT DEBIT CREDIT CREDIT ACCOUNTING EQUATION ASSETS LIABILITIES ASSETS PAGE 1 LIABILITIES EQUITY ACCOUNTING EQUATION PAGE 2 EQUITY

Fint Question Jomal 2 The kale of the nowponed