Equipment acquired on January 2, 2013 at a cost of $305,500 has an estimated usefu ife of eight years and an estimated $24,500 Required wnat is the annual amount of depreciation for the years 2013, 2014, and 2015, assuming the straight-line method of depreciation is used? What was the book value of the equipment on January 1, 2016 Assuming that the equipment was sold on January 2, 2016, for $178,000, journalize the entry to record the sale Assuming that the equipment had been sold on January 2,2016, for $204,000 instead of $178.000, journalize the entry to record the sale