Equipment acquired on January 8 at a cost of $171,860 has an estimated useful life of 18 years, has an estimated residual value of $8,600, and is depreciated by the straight-line method.

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a. What was the book value of the equipment at December 31 the end of the fourth year? $fill in the blank b87194f79028062_1

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b. Assume that the equipment was sold on April 1 of the fifth year for $126,892.

1. Journalize the entry to record depreciation for the three months until the sale date. If an amount box does not require an entry, leave it blank. Round your answers to the nearest whole dollar if required.

blank	Accounts PayableAccumulated Depreciation-EquipmentCashDepreciation Expense-EquipmentEquipmentEquipment ExpenseDepreciation Expense-Equipment	Depreciation Expense-Equipment	Depreciation Expense-Equipment
	Accounts PayableAccumulated Depreciation-EquipmentCashDepreciation Expense-EquipmentEquipmentEquipment ExpenseAccumulated Depreciation-Equipment	Accumulated Depreciation-Equipment	Accumulated Depreciation-Equipment

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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.

blank	Accounts PayableCashDepreciation Expense-EquipmentEquipmentGain on Sale of EquipmentCash	Cash	Cash
	Accounts PayableAccumulated Depreciation-EquipmentDepreciation Expense-EquipmentEquipmentGain on Sale of EquipmentAccumulated Depreciation-Equipment	Accumulated Depreciation-Equipment	Accumulated Depreciation-Equipment
	Accounts ReceivableDepreciation Expense-EquipmentEquipmentLoss on Sale of EquipmentDepreciation Payable-EquipmentLoss on Sale of Equipment	Loss on Sale of Equipment	Loss on Sale of Equipment
	Accumulated Depreciation-EquipmentEquipmentEquipment ExpenseGain on Sale of EquipmentLoss on Sale of EquipmentEquipment	Equipment	Equipment