Mercury Inc. purchased equipment in 2016 at a cost of $400,000. The equipment was expected to produce 700,000 units over the hext five years and have a residual value of $50,000. The equipment was sold for $210,000 part way through 2018 . Actual production in each year was: 2016=100,000 units; 2017=160,000 units; 2018=80,000 units. Mercury uses units-of-production depreciation, and all depreciation has been recorded through the disposal date. Required: 1. Prepare the journal entry to record the sale. 2. Assuming that the equipment was sold for $245,000, prepare the journal entry to record the sale. Complete this question by entering your answers in the tabs below. Prepare the joumal entry to record the sale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Journal entry worksheet Note: Enter debits before credits