Entries for Sale of Fixed Asset Equipment acquired on January 8 at a cost of $168,000 has an estimated useful life of 18 years, has an estimated residual value of $15,000, 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 $125,000. 1. Journalize the entry to record depreciation for the three months until the sale date. If an amount box does not require an entry, leave it blank. 2. Journalize the entry to record the sale of the equipment. If an amount box does not require an entry, leave it blank.

Equipment acquired on January 8 at a cost of $168,000 has an estimated useful tife of 18 years, has an estimated residual value of $15,000, 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? s. b. Assume that the equipment was sold on April 1 of the fith year for $125,000, 1. Journalize the entry to record depredation for the three months until the sale date. If an amount box does not require an entry, leave it blank. 2. Journaize the entry to record the sale of the equipment. If an amount box does not require an entry, leave it blank. Entries for Sale of Foxed Asset Equipment acquired on January 8 at a cost of $168,000 has an estimated useful life of 18 years, has an estimated residual value of $15,000, and is depreciated by the stralght-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 firth year for $125,000. 1. Joumalize the entry to record depreciation for the three months until the sole date. If an amount box does not require an entry, leave it blank. 2. Journalize the entry to record the sale of the equipment. If an amount box does not require an entry, leave it blank