Exercise 11-10 Disposal of property, plant, and equipment [L011-2) Mercury Inc. purchased equipment in 2016 at a cost of $143,000. The equipment was expected to produce 370,000 units over the next five years and have a residual value of $32,000. The equipment was sold for $71,900 part way through 2018. Actual production in each year was: 2016 = 52,000 units, 2017 = 83,000 units, 2018 = 42,000 units. Mercury uses units-of-production depreciation, and all depreciation has been recorded through the disposal date Required 1. Prepare the journal entry to record the sale 2. Assuming that the equipment was sold for $108,900, prepare the journal entry to record the sale. Complete this question by entering your answers in the tabs below. Required 2 Required 1 Prepare the journal entry to record the sale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the sale Note: Enter debits before credits Event Debit Credit General Journal Record entry Clear entry View general journal Required 1 Required 2 Required 1Rquird 2 Assuming that the equipment was sold for $108,900, prepare the journal entry to record the sale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the sale of equipment. Note: Enter debits before credits. Event Debit Credit General Journal Record entry Clear entry View general journal Required 1 Required 2