Equipment acquired on January 8 at a cost of $198,700 has an estimated useful life of 19 years, has an estimated residual value of $9,650, 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 1 of 1$

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b. Assuming that the equipment was sold on April 1 of the fifth year for $150,397.

1. Journalize the entry to record depreciation for the 3 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	Account	Debit	Credit
blank	Accounts PayableAccumulated Depreciation-EquipmentCashDepreciation Expense-EquipmentEquipment
	Accounts PayableAccumulated Depreciation-EquipmentCashDepreciation Expense-EquipmentEquipment

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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	Account	Debit	Credit
blank	Accounts PayableCashDepreciation Expense-EquipmentEquipmentGain on Sale of Equipment
	Accounts PayableAccumulated Depreciation-EquipmentDepreciation Expense-EquipmentEquipmentGain on Sale of Equipment
	Accounts ReceivableDepreciation Expense-EquipmentDepreciation Payable-EquipmentEquipmentLoss on Sale of Equipment
	Accumulated Depreciation-EquipmentEquipmentEquipment ExpenseGain on Sale of EquipmentLoss on Sale of Equipment