Kamloops Corporation purchased equipment on July 18 of Year 6 for $500,000. The estimated useful life is 8 years, and the residual value is $50,000. On March 24 of Year 12, they sold the equipment for $150,000. Depreciation is rounded to the nearest month. The companys year-end is December 31st. Required Provide all journal entries necessary for the sale of the equipment under the following conditions. You must also show your clearly labelled calculations. Kamloops Corporation uses straight line depreciation. (10 marks) Kamloops Corporation uses double declining balance depreciation. (10 marks)