Equipment acquired on January 9,20Y3, at a cost of $611,000, has an estimated useful life of 19 years, an estimated residual value of $109,980, and is lepreciated by the straight-line method. What was the book value of the equipment at the end of the fifth year, December 31, 20Y7? Round your interim calculations and final answer to the nearest dollar. Enter account decreases, cash outflows, and the income statement effects that decrease net income as negative amounts. However, for contra asset accounts, enter account increases as a negative value. Round annual depreciation to the nearest dollar and use this amount in your ollow-on calculations. If no account or activity is affected, select "No effect" from the dropdown and leave the corresponding number entry oox blank. Assuming that the equipment was sold on July 1,20Y8, for $305,500, illustrate the effects on the accounts and financial statement of depreciation for the thonths until the sale date. Financial Statement Effects nent was sold on July 1,20Y8, for $305,500, illustrate the effects on the accounts and financial statement of the sale of the Equipment acquired on January 9,20Y3, at a cost of $611,000, has an estimated useful life of 19 years, an estimated residual value of $109,980, and is lepreciated by the straight-line method. What was the book value of the equipment at the end of the fifth year, December 31, 20Y7? Round your interim calculations and final answer to the nearest dollar. Enter account decreases, cash outflows, and the income statement effects that decrease net income as negative amounts. However, for contra asset accounts, enter account increases as a negative value. Round annual depreciation to the nearest dollar and use this amount in your ollow-on calculations. If no account or activity is affected, select "No effect" from the dropdown and leave the corresponding number entry oox blank. Assuming that the equipment was sold on July 1,20Y8, for $305,500, illustrate the effects on the accounts and financial statement of depreciation for the thonths until the sale date. Financial Statement Effects nent was sold on July 1,20Y8, for $305,500, illustrate the effects on the accounts and financial statement of the sale of the