Equipment acquired on January $8$ at a cost of $$165,730$ has an estimated useful life of $17$ years, has an estimated residual value of $$8,650,$ and is depreciated by the straight$-$line method.

Required:

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

b$.$ Assuming that the equipment was sold on April $1$ of the fifth year for $$120,655,$ journalize the entries to record $(1)$ depreciation for the three months until the sale date and $(2)$ the sale of the equipment. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. Round your answer to the nearest whole dollar.