Lynn Company owns equipment that cost $120,000 when purchased on January 1, 2012. 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.)

(a)		Sold for $58,000 on January 1, 2015.
(b)		Sold for $58,000 on May 1, 2015.
(c)		Sold for $32,000 on January 1, 2015.
(d)		Sold for $32,000 on October 1, 2015.

Date Account Titles and Explanation Debit Credit (To record depreciation expense) (To record disposal of equipment at a gain)