Equipment acquired on January 6 at a cost of 5186,300 has an estimated useful life of 9 years and an estimated residual value of $24,300. a. What was the annual amount of depreciation for the Years 1-3 using the straight-line method of depreciation? Year Depreciation Expense Year 1 18,000 18,000 Year 2 Year 3 18,000 b. What was the book value of the equipment on January 1 of Year 4? $ 132,300 c. Assuming that the equipment was sold on January 3 of Year 4 for $125,700, journalize the entry to record the sale. If an amount box does not require an entry. leave it blank Jan. 3 Cash Accumulated Depreciation Equipment Loss on Sale of Equipment Equipment d. Assuming that the equipment had been sold on January 3 of Year 4 for $134,900 instead of $125,700, Journalize the entry to record the sale. If an amount box does not require an entry, leave it blank Jan. 3 Cash Accumulated Depreciation Equipment Equipment