Journalize and answering questions

New lithographic equipment, acquired at a cost of $905,600 on March 1 at the beginning of a fiscal year, has an estimated useful life of five years and an estimatedresidual valueof $101,880. The manager requested information regarding the effect of alternative methods on the amount of depreciation expense each year. On the basis of the data presented to the manager, thedouble-declining-balance methodwas selected.

In the first week of the fifth year, on March 4, the equipment was sold for $149,286.

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 thebook valueof the equipment at the end of each year by (a) thestraight-line methodand (b) the 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.
3.	Journalize the entry to record the sale in (2), assuming that the equipment was sold for $103,386 instead of $149,286. Refer to the Chart of Accounts for exact wording of account titles.

CHART OF ACCOUNTS

General Ledger

ASSETS
110	Cash
111	Petty Cash
112	Accounts Receivable
114	Interest Receivable
115	Notes Receivable
116	Merchandise Inventory
117	Supplies
119	Prepaid Insurance
120	Land
123	Delivery Truck
124	Accumulated Depreciation-Delivery Truck
125	Equipment
126	Accumulated Depreciation-Equipment
130	Mineral Rights
131	Accumulated Depletion
132	Goodwill
133	Patents

LIABILITIES
210	Accounts Payable
211	Salaries Payable
213	Sales Tax Payable
214	Interest Payable
215	Notes Payable

EQUITY
310	Common Stock
311	Retained Earnings
312	Dividends
313	Income Summary

REVENUE
410	Sales
610	Interest Revenue
620	Gain on Sale of Delivery Truck
621	Gain on Sale of Equipment

EXPENSES
510	Cost of Merchandise Sold
520	Salaries Expense
521	Advertising Expense
522	Depreciation Expense-Delivery Truck
523	Delivery Expense
524	Repairs and Maintenance Expense
529	Selling Expenses
531	Rent Expense
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
721	Loss on Sale of Equipment

2. On March 4, jaurnattze the entry to record the sate assuming the manager chase the doubte-declfnfng-balence method; Refer to the Chart of Accounts for exact wom'r'ng of account titles. AH transactions on this page must be entered {except for past reffs}; before you wit! recehre Check My Work feedback. PACIE 1 JOURNAL Score: 1M? MCOUNTING EQIJA'I'ION DhTE DESCRIFT'IDN POST; REF. DEBIT CREDIT ASSETS LIIEILITIE EQUITY 3. On Mar-ah 4, jaumaze the entry to record the sate In (.2), assuming that the equipment was sold for $103,386 Instead of $149,286. Refer tn the Shart efAccounts for exact wordu'ng afaacount Htfes. Question not attempted. | m3; 1 JOURNAL Sure: W49 H ACCOUNTING Emlmm