Instructions New lithographic equipment, acquired at a cost of 5859,200 on March 1 at the beginning of a fiscal year has an estimated useful life of five years and an estimated residual value of 506,660 The manager requested information regarding the effect of aterative methods on the amount of depreciation expense each year. On the basis of the data presented to the manager, the double-deco-balance method was selected. in the first week of the fifth year, on March 4, the equipment was sold for $141,422. Required: 1. Determine the annual depreciation expense for each of the estimated five years of use, the accumulated depreciation at the end of each year, and the book value of the equipment at the end of each year by (a) the streche method and (b) me double-declining balance method. Round your answers to the nearest whole dollar. 2. Journalize the entry to record the sale assuming the manager chose the double-declining-balance method. Refer to the Chart of Accounts for exact wording of accounts 3 Journalize the entry to record the sale in (2), assuming that the equipment was sold for $96.962 instead of $141,422. Refer to the Chart or Accounts for exact wording of account titles a. Straight line method Nel Th Accumulated Depreciation, End of Year dol Year Depreciation Expense Book Value, End of Year 1 In 2 3 4 5 b. Double-declining-balance method Accumulated Depreciation, End of Year Year Depreciation Expense Book Value, End of Year 1 2 3 4 5 2. On March 4 journalize the entry to record the sale assuming the manager chose the double-declining balance method. Refer to the Chart of Accounts for exact wording of accounts JOURNAL DATE DESCRPTION POST.EE OT CREDIT ACCUSATION ASSETS LAUTES EQUITY 3. On March 4 journalize the entry to record the sale in (2), assuming that the equipment was sold for $96,962 instead of SN1, 422. Refer to the Chart of Accounts for exact wording of accountles ME JOURNAL DESCRIPTION POSTER DEST ACCOUNTING TIN ASET LATES BOUT