Entries for Sale of Flxed Asset Equipment acquired on January 8 at a cost of $162,400 has an estimated useful life of 17 years, has an estimated residual value of $7,7 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 $117,190 1 Journalize the entry to record depreciation for or the three months until the sale date. If an amount box does not require an entry, leave it blank. Round your answers to the until the nearest whole dollar if required. ) Depreciation Expense-Equipment dropdown 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. Cash Accumulated Depreciation-Equipment Loss on Sale of E Check My Work Previous