HW Problem 8.3-On 1/1/X1 Your Co. purchased equipment on account for $105,000 plus sales tax of $9,000. On January 2nd, Your Co. paid $2,000 to reinforce the floor where the equipment would be installed. On January 3rd, Your Co. paid $1,200 for delivery and installation of the equipment. A) Record the journal entries for the preceding transactions. B) Record depreciation at the end of the year assuming the straight-line method, the equipment cost \$117,200, an 11-year life, and a salvage value of \$5,000. C) Record the journal entries 10/1/X4, if Your Co. sells the equipment for $90,000. Assume no adjusting entries were made in 20X4. D) Record the journal entries 10/1/X4 if the equipment is sold for $60,000