Equipment acquired on January $3,20Y1,$ at a cost of $$690,000,$ has an estimated useful life of $13$ years and an estimated residual value of $$151,800.$

b$.$ What was the book value of the equipment on January $1,20Y4?$

$

c$.$ Assuming that the equipment was sold on January $2,20Y4,$ for $$241,500,$ illustrate the effects on the accounts and financial statements of the sale.

Financial Statement Effects

d$.$ Assuming that the equipment was sold on January $2,20Y4,$ for $$828,000$ instead of $$241,500,$ illustrate the effects on the accounts and financial statements of the sale.

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