Following is information on the capital assets of Colombia Company on December 31, 2019: $119,000 Property, plant, and equipment: Land Building Less: Accumulated depreciation Equipment Less: Accumulated depreciation Total property, plant, and equipment $1,014,000 (195,000) 170,800 819,000 The land and building were purchased at the beginning of 2017. Straight-line depreciation is used and a residual value of $39,000 for the building is anticipated. The equipment is comprised of the following three machines: Life in Years Machine 101 102 103 Cost $ 56,500 88,000 26,300 Date Acquired 1/1/17 6/30/18 9/1/19 Residual Value $ 6,900 7,900 2,900 000 The straight-line method is used to determine depreciation on the equipment. On March 31, 2020, Machine 102 was sold for $61,000. Early in 2020, the useful life of machine 101 was revised to five years in total, and the residual value was revised to zero. Dequired. Required: 1. Calculate the accumulated depreciation on the equipment at December 31, 2019. 2. Prepare the journal entry to record 2020 depreciation on machine 102 up to the date of sale. 3. Prepare a schedule to calculate the gain or loss on the sale of machine 102. 4. Prepare the journal entry for the sale of machine 102. 5. Prepare the 2020 year-end journal entries to record depreciation on the building and equipment. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Calculate the accumulated depreciation on the equipment at December 31, 2019. Accumulated depreciation Required 1 Required 2 >