Mackay, Inc., had a piece of equipment that cost $49,000 and had accumulated depreciation of $25,000 Read the requirement. X Requirement 1. Record the disposition of the equipment assuming the following independent situations: a. Mackay discarded the equipment, receiving $0. b. Mackay sold the equipment for $27,000 cash. c. Mackay traded the equipment in on a new piece of equipment costing $54,000. Mackay was granted a(n) $26,500 trade-in allowance for the old equipment and paid the difference in cash, d. Mackay traded the equipment in on a new piece of equipment costing $43,000. Mackay was granted a $22,000 trade-in allowance for the old equipment and signed a note payable for the difference. a. Mackay discarded the equipment receiving $0. (Record debits first, then credits. Exclude explanations from all journal entries.) Journal Entry Date Debit Credit Accounts b. Mackay sold the equipment for $27,000 cash. Journal Entry Date Accounts Debit Credit b. c. Mackay traded the equipment in on a new piece of equipment costing $54,000. Mackay was granted a $26,500 trade-in allowance for the old equipment and paid the difference in cash. Journal Entry Accounts Date Debit Credit C. d. Mackay traded the equipment in on a new piece of equipment costing $43,000. Mackay was granted a $22,000 trade-in allowance for the old equipment and signed a note payable for the difference. Journal Entry Accounts Date Debit Credit d