Mercury Inc. purchased equipment in 2016 at a cost of $340,000. The equipment was expected to produce 440,000 units over the next five years and have a residual value of $32,000. The equipment was sold for $170,900 part way through 2018. Actual production in each year was: 2016 63,000 units, 2017 100,000 units, 2018 = 50,000 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 $201,900, prepare the journal entry to record the sale