Kingbird Company owns equipment that cost $130,000 when purchased on January 1, 2019. It has been depreciated using the straight-line method based on an estimated salvage value of $13,000 and an estimated useful life of 5 years. Depreciation expense adjustments are recognized annually. Instructions: Prepare Kingbird Company's journal entries to record the sale of the equipment in these four independent situations. Update depreciation on assets disposed of at time of sale. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) (a) (b) (c) (d) (e) (1) Sold for $79,000 on January 1, 2022. Sold for $79.000 on April 1, 2022. Sold for $27,500 on January 1, 2022. Sold for $27,500 on September 1, 2022. Repeat (a), assuming Kingbird uses double-declining balance depreciation. Repeat (c), assuming Kingbird uses double-declining balance depreciation. SR. Account Titles and Explanation (a) (b) (To record depreciation) Debit Credit (c) (To record depreciation) (To record sale of Equipment) (d) (e) (To record depreciation) (To record sale of Equipment) 4 (e) (1)