ebook Disposal of Fixed Asset Show Me How Equipment acquired on January 6 at a cost of $310,500 has an estimated useful life of 9 years and an estimated residual value of $40,500. a. What was the annual amount of depreciation for the 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 Year 4? DO c. Assuming that the equipment was sold on January 3 of Year 4 for $209,500, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank Jan. 31 Previous d. Assuming that the equipment had been sold on January 3 of Year 4 for $224,900 instead of $209,500, journalize the entry to record the sale. It an amount box does not require an entry, leave a blank Check My Work