Entries for sale of fixed asset? Equipment acquired on January 8 at a cost of $116,150 has an estimated useful lfo of 15 years, has an estimated residual value of $8,300, and is depreclated by the straight-line method. a. What was the book value of the equipment at December 31 the end of the fourth year? 1 b. Assuming that the equipment was sold on Apnil 1 of the fifth year for $79,857. 1. Journalize the entry to record depreciation for the 3 months untal the sale date. If an amount box does not require an entry, leave it blanik. Round your answers to the nearest whole dollar if required