Lynn Company owns equipment that cost $120,000 when purchased on January 1, 2018. It has been depreciated using the straight- line method based on estimated salvage value of $15,000 and an estimated useful life of 5 years. Prepare Lynn Company's journal entries to record the sale of the equipment in these four independent situations. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) (a) (b) Sold for $58,000 on January 1, 2021. Sold for $58,000 on May 1, 2021. Sold for $32,000 on January 1, 2021. (c) (d) Sold for $32,000 on October 1, 2021. Date Account Titles and Explanation Debit Credit (a) Cash 58000 Accumulated Depreciation Equipment Gain on Disposal of Plant Assets Equipment (b) Depreciation Expense Accumulated Depreciation Equipment (To record depreciation expense) Cash Accumulated Depreciation-Equipment Gain on Disposal of Plant Assets Equipment (To record disposal of equipment at a gain) (c) Cash Accumulated Depreciation Equipment Loss on Disposal of Plant Assets Equipment (d) Depreciation Expense Accumulated Depreciation Equipment (To record depreciation expense) Cash Accumulated Depreciation Equipment loss (To record disposal of equipment at a loss)