Entries for Sale of Fixed Asset Equipment acquired on January 8 at a cost of $196,300 has an estimated useful life of 20 years, has an estimated residual value of $7,100, 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. Assume that the equipment was sold on April 1 of the fifth year for $149,90 1. Journaline the entry to record depreciation for the three months until the sale date. If an amount box does not require an entry, tonve it blank Round your answers to the nearest whole dollar if required. Depreciation Expense-Equipment Accumulated Depreciation-Equipment 2. Journalire the entry to record the sale of the equipment. If an amount box does not require an entry, leave it blonk. Do not round intermediate calculations. Cash Accumulated Depreciation Equipment Loss on Sale of Equipment Equipment