Equipment acquired on January $3,20$Y$1,$ at a cost of $$520,000,$ has an estimated usefulife of $12$ years and an estimated residual value of $$52,000.$

a$.$ What was the annual amount of depreciation for the years $20Y1,20Y2,$ and $20Y3,$ using the straight$-$line method of depreciation? Round annual depreciation to the nearest dollar and use this amount in your follow$-$on calculations.

Depreciation expense

$20Y1$

s

$20Y2$

$$

$20Y3$

$$

b$.$ What was the book value of the equipment on January $1,20$Y$4?$

s

For decreases in accounts or outflows of cash, enter your answers as negative numbers. If no account or activity is affected, select $"$No effect" from the dropdown and leave the corresponding number entry box blank.

c$.$ Assuming that the equipment was sold on January $2,20Y4,$ for $$130,000,$ illustrate the effects on the accounts and financial statements of the sale.

Financial Statement Effects

d$.$ Assuming that the equioment was sold on Januarv $2.20$Y$4,$ for $$676\mathrm{.}000$ instead of $$130\mathrm{.}000.$ Illustrate the effects on the accounts and financial statements of the sale.