Express Co. purchased equipment on March 1, 2019, for $95,000 on account. The equipment had an estimated useful life of five years, with a residual value of $5,000. The equipment is disposed of on February 1, 2022. Express Co. uses the diminishing-balance method of depreciation with a 20% rate and calculates a depreciation for partial periods to the nearest month. The company has an August 31 year end. Record the acquisition of the equipment on March 1, 2019. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Mar. 1 Record the acquisition of the equipment on March 1, 2019. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Mar. 1 (To record purchase of equipment on e Textbook and Media List of Accounts Record depreciation at August 31, 2019, 2020, and 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) 2019 Date Account Titles and Explanation Aug. 31 (To record depreciation expense.) 2020 Date Account Titles and Explanation Aug. 31 (To record depreciation expense.) 2021 Date Account Titles and Explanation Aug. 31 (To record depreciation expense.) e Textbook and Media List of Accounts Record the disposal on February 1, 2022, under the following assumptions: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) 1. It was scrapped with no residual value 2. It was sold for $55,000. 3. It was sold for $45,000. 4. It was traded for new equipment with Date Account Titles and Explanation 2022 Feb. 1 (To record depreciation expense 1. Feb. 1 Record the disposal on February 1, 2022, under the following assumptions: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) I value. t with a list price of $97,000. Express was give Date Account Titles and Explanation 2022 Feb. 1 (To record depreciation expense 1. Feb. 1 Record the disposal on February 1, 2022, under the following assumptions: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) trade-in allowance of $52,000 on the old equil Date Account Titles and Explanation 2022 Feb. 1 (To record depreciation expense 1. Feb. 1 Record the disposal on February 1, 2022, under the following assumptions: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) trade-in allowance of $52,000 on the old equi Date Account Titles and Explanation 2022 Feb. 1 (To record depreciation expense 1. Feb. 1 Record the disposal on February 1, 2022, under the following assumptions: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) old equipment and paid the balance in cash. E. Date Account Titles and Explanation 2022 Feb. 1 (To record depreciation expense 1. Feb. 1 Record the disposal on February 1, 2022, under the following assumptions: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) sh. Express determined the old equipment's fa Date Account Titles and Explanation 2022 Feb. 1 (To record depreciation expense 1. Feb. 1 Record the disposal on February 1, 2022, under the following assumptions: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) air value to be $47,000 at the date of the exch Date Account Titles and Explanation 2022 Feb. 1 (To record depreciation expense 1. Feb. 1