Entries for sale of fixed asset Equipment acquired on January 8 at a cost of $123,870 has an estimated useful life of 12 years, has an estimated residual. value of $7,350, and is depreciated by the straight-line method. a. What was the book value of the equipment at December 31 the end of the fourth year? b. Assuming that the equipment was sold on April 1 of the fift year for $76,192. 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 the nearest whole dollar if required. 2. Joumalize the entry to record the sale of the equipment. If an amount box dons not require an entry, leave it blank, Do not round intermediate calculations