Help System Announcements Canadian Edition by Kimmel, Weygandt, Kiese, Trenholm, Irvine, and Burnley * RACK Problem 9-6A a-c (Part Level Submission) Cullumber Limited purchased delivery equipment on March 1, 2016, for $142,500 cash. At that time, the equipment was estimated to have a useful We of five years and a residual value of $10.400. The equipment was disposed of on November 30, 2018. Oulumber uses the diminishing-balance method at one times the straight-line depreciation rate, has an August 1 year end, and makes adjusting entries annually. your answer is correct. Record the acquisition of equipment on March 1, 2016. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, see "No Entry for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Mar. 1 Equipment 142500 cash 142500) SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor Attempts: 1 of 5 used Record depreciation at August 31, 2016, 2017, and 2018. (Credit account titles are automatically indented when the amount is entered. Do not indent man ally. If no entry is required select "No Entry "for the account titles and enter for the amounts. Round answers to o decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit