Entries for Sale of Fixed Asset Equipment acquired on January 8 at a cost of $178,000 has an estimated useful life of 19 years, has an estimated residual value of 89,850, 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 nith year for $135,157 1. Journalize the entry to record depreciation for the three months until the sale cate, If an amount box does not requlre an entry, leave it blank. Round your answers to the nearest whole dollar if required. 2. Journalize the entry to record the sale of the equipment. If an amount box does not require an entry, leave it blank. Do not round Intermediate calculations Previous Next Check My Work