Entries for sale of fixed asset Equipment acquired on January 8 at a cost of $212,000 has an estimated useful life of 15 years, has an estimated residual value of $14,000, and is depreciated by the straight-line method: a. What was the book value of the equipment at the end of the fifth year, December 31 ? 5 b. Assuming that the equipment was sold on April 1 of the sixth year for $105,800. 1. Journalize the entry to record depreciation for the 3 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 if biank