Eagle Company purchased equipment on January 1,2021 , for $80,000, paying half in cash and putting the other half on account. Eagle estimates the useful life of the equipment as 4 years with a salvage value of $20,000. Eagle uses the straight-line method of depreciation and prepares annual adjusting journal entries on December 31st. 2. Prepare the adjusting journal entry to record annual depreciation of equipment on narmmhar at anot Supporting Calculations for Depreciation: 3. Prepare the adjusting joumal entry to record annual depreciation of equipment on 4. If the equipment was sold on March 1, 2023, for $48,000 : a. How much depreciation expense would be recorded for the three months in 2023 prior to the sale of the equipment? b. What is the balance in accumulated depreciation as of March 1, 2023? (After the AJE to bring depreciation up to date and prior to the sale of the equipment?) sonumiated perevertor c. Is there a gain or loss on the sale of equipment? (circle one) a. Gain b. Loss d. Prepare the joumal entry on March 1,2023, to record the sale of the equipment