eBook Show Me How Calculator Sale of equipment Instructions Chart of Accounts First Questions Journal Instructions Equipment was acquired at the beginning of the year at a cost of $575,000. The equipment was depreciated using the double-declining balance method based on an estimated useful life of 9 years and an estimated residual value of $49,295. A. What was the depreciation for the first year? Round your intermediate calculations to 4 decimal places. Round the depreciation for the year to the nearest whole dollar. B. Assuming the equipment was sold at the end of the second year for $567,500, determine the gain or loss on the sale of the equipment C. Journalize the entry on Dec 31 to record the sale. Refer to the Chart of Accounts for exact wording of account titles. Points | eBook 34 Show Me How Calculator Sale of equipment Instructions Chart of Accounts First Questions Journal Journal OROSCOUTSENOR Shaded cells have feedback. X EETAL... JOURNAL Score: 4 ARCTING ELITI ASSETS LIABILITIES DEBIT 567,500.00 EETAL... DATE Dec. 31' Cash Accumulated Depreciation Equipment Equipment Gain on Sale of Equipment 227.16100 575,000.00 219,661.00 Points: 8.27 Feedback Check My Work Be sure to record the selling price of the foxed asset. If the company no longer has the foxed asset what account(s) would need to be eliminated? Was there a ga