Entries for sale of fixed asset

Entries for sale of fixed asset Equipment acquired on January 8 at a cost of $145,710 has an estimated useful life of 18 yeers, has an estimated residuai value of $7,650, and is depreciated by the straightitine method. a. What was the book value of the equipment at December 31 the end of the fourth year? Feedback 7 Check My Wak Book value is the initial cost of the fixed asset minus the accumulated depreciation. b. Assuming that the equipment was sold on April 1 of the finth year for $106,612. 1. Journalize the entry to record depreciation for the 3 months until the sale date. If an amount box does not require an entry. leave it blank. Round your answers to the nearest whole dollar if required. 1eeithis r Oheck My Wat The depreciation nccount of the fixed asset being sold or discarded needs to be updated to refect the months of use in the vear it is being thicarded or soid, The atraight-line method of depreciation calculates the amount of depreciation to be recognised each year. * Chask Me Wos the ampurt of deprecistion to be recoginized esch year. Joumalize the entry to record the sale of the equipment. If an amount box does rot requre an entry, leaye if blank. Do not round intermediate calculations