Fixed Asset EQUIPMENT acquired on Jan 8 arcs cost of $168,000 has an estimated useful life of 18 years, has an estimated residual value of $15,000, and is depreciated by the straight line method. what was the book value of the equipment at Dec 31 the end of fourth year $134,000 Assume that the equipment was sold on Apr 1 of the fifth year for $ 125,000 Journalist the entry to record the sale of the equipment cash accumulated depreciation-equipment loss on sale of equipment equipment