Entries for Sale of Fixed Asset Equipment acquired on January 5 at a cost of $127,450, has an estimated useful life of 15 years, has an estimated residual value of $8,350, and is depreciated by the straight Ine method. a. What was the book value of the equipment at December 31 the end of the fourth year? 95,690 Check My Wor Book value is the initial cost of the fixed asset minus the accumulated depreciation. Learning Objective 3. b. Assuming that the equipment was sold on April 1 of the fifth year for 86,940. 1. Journalize the entry to record deprediation for the three months until the sale date. Round your answers to the nerest whole dollar if required Depreciation Expense-Equipment 2,047 X Accumulated Depreciation-Equipment 2,646 X Check My Wrk The depreciation account of the fixed asset being sold or discarded needs to be updated to refilect the months of use in the year it is being discarded or sold The