Equipment was purchased on January 1, 2015 for $80,000. The asset is expected to last for four years, at which time the estimated residual value will be $11,000 Required a) Prepare a table showing the amount of depreciation expense each year, accumulated depreciation to date and net book value. The company uses straight-line depreciation Do not enter dollar signs or commas in the input boxes. Round all dollar figure answers to the nearest whole number. Year Cost of Long-Term Asset Depreciation Expense Accumulated Depreciation Net Book Value 2015 80,000 17250 $80,000 $17250 $80,000 $80,000 $17250 $17250 $34500 $51750 $69000 $62750 $45500 $28250 $11000 2016 2017 2018 $17250 b) The asset was sold for $14,000 on the first day of 2019. Prepare the journal entry to record the sale Enter all debit accounts in alphabetical order Enter all credit accounts in alphabetical order Date Account Title and Explanation Debit Credit Jan 1 Accumulated Depreciation 69000 Cash 14000 Equipment 80000 Gain on Disposal of Asset 3000 Sale of equipment for cash c) Using the same purchase information at the beginning of the question, prepare the table assuming that the company used double-declining-balance depreciation Net Book Value at the Beginning of the Year Depreciation Expense Year Accumulated Depreciation Net Book Value at the End of the Year $80000 2015 2016 2017 2018 d) Using the same purchase information and residual value at the beginning of the question, assume that the company uses the units-of-production method. The asset can produce one million units. Prepare the depreciation table Year Cost of Long-Term Asset Units Produced Depreciation Expense Accumulated Depreciation Net Book Value 2015 2016 2017 2018 $80,000 $80,000 $80,000 $80,000 120,000 130,000 200,000 310,000 Check