Instructions Equipment acquired on January 6 at a cost of $417,390, has an estimated useful life of 17 years and an estimated residual value of $68,805 A. What was the annual amount of depreciation for the Years 1-3 using the straight-line method of depreciation? B. What was the book value of the equipment on January 1 of Year 4? C. Assuming that the equipment was sold on January 3 of Year 4 for $339,855, journalize the entry to record the sale. Refer to the Chart of Accounts for exact wording of account titles D. Assuming that the equipment had been sold on January 3 of Year 4 for $368,885 instead of $339,865, joumalize the entry to record the sale Refer to the Chart of Accounts for exact wording of account titles Chart of Accounts 130 Mineral Rights 131 Accumulated Depletion 531 Rent Expense 132 Goodwill 133 Patents 532 Depreciation Expense-Equipment 533 Depletion Expense 534 Amortization Expense-Patents 535 Insurance Expense 536 Supplies Expense 539 Miscellaneous Expense 710 Interest Expense 720 Loss on Sale of Delivery Truck LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable 721 Loss on Sale of Equipment EQUITY 310 Owner's Capital 311 Owner's Drawing baccord First Questions A. What was the annual amount of depreciation for the Years 1-3 using the straight-line method of depreciation? $ Year 1 depreciation expense Year 2 depreciation expense Year 3 depreciation expense $ $ B. What was the book value of the equipment on January 1 of Year 4? S Journal C. Assuming that the equipment was sold on January 3 of Year 4 for $339,855, journalize the entry to record the sale. Refer to the Chart of Accounts for exact wording of account hits PE JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS TORTY D. Assuming that the equipment had been sold on January 3 of Year 4 for $168,885 instead of $319,065. joumaitre the entry to record the sale. Refer to the Chart of Accounts for exact worsting of account es PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST BLY DEBIT CREDIT ASSETS LITIES EQUITY