Mercury Incorporated purchased equipment in 2 0 2 2 at a cost of $ 2 1 2 , 0 0 0 The equipment was expected to produce 4 6 0 , 0 0 0 units over the next five years and have a residual value of $ 2 8 , 0 0 0 The equipment was sold for $ 1 1 5 , 6 0 0 part way through 2 0 2 4 Actual production in each year was 2 0 2 2 6 5 , 0 0 0 units 2 0 2 3 1 0 4 , 0 0 0 units 2 0 2 4 5 2 , 0 0 0 units Mercury uses units of production depreciation, and all depreciation has been recorded through the disposal date Required Calculate the gain or loss on the sale Prepare the journal entry to record the sale Assuming that the equipment was instead sold for $ 1 4 3 , 6 0 0 , calculate the gain or loss on the sale Prepare the journal entry to record the sale in requirement 3 Mercury Incorporated purchased equipment in 2 0 2 2 at a cost of $ 2 1 2 , 0 0 0 The equipment was expected to produce 4 6 0 , 0 0 0 units over the next five years and have a residual value of $ 2 8 , 0 0 0 The equipment was sold for $ 1 1 5 , 6 0 0 part way through 2 0 2 4 Actual production in each year was 2 0 2 2 6 5 , 0 0 0 units 2 0 2 3 1 0 4 , 0 0 0 units 2 0 2 4 5 2 , 0 0 0 units Mercury uses units of production depreciation, and ail depreciation has been recorded through the disposal date Required Calculate the gain or loss on the sale Prepare the journal entry to record the sale Assuming that the equipment was instead sold for $ 1 4 3 , 6 0 0 , calculate the gain or loss on the sale Prepare the journal entry to record the sale in requirement 3 Answer is complete but not entirely correct Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 Required 4 Calculate the gain or loss on the sale Note Do not round intermediate calculations Loss on sale of equipment $ ( 5 , 7 9 0 )

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Mercury Incorporated purchased equipment in 2 0 2 2 at a cost of $ 2 1 2 , 0 0 0   The equipment was expected to produce 4 6 0 , 0 0 0 units over the next five years and have a residual value of $ 2 8 , 0 0 0   The equipment was sold for $ 1 1 5 , 6 0 0 part way through 2 0 2 4   Actual production in each year was  2 0 2 2   6 5 , 0 0 0 units 2 0 2 3   1 0 4 , 0 0 0 units 2 0 2 4   5 2 , 0 0 0 units  Mercury uses units   of   production depreciation, and all depreciation has been recorded through the disposal date  Required  Calculate the gain or loss on the sale  Prepare the journal entry to record the sale  Assuming that the equipment was instead sold for $ 1 4 3 , 6 0 0 , calculate the gain or loss on the sale  Prepare the journal entry to record the sale in requirement 3   Mercury Incorporated purchased equipment in 2 0 2 2 at a cost of $ 2 1 2 , 0 0 0   The equipment was expected to produce 4 6 0 , 0 0 0 units over the next five years and have a residual value of $ 2 8 , 0 0 0   The equipment was sold for $ 1 1 5 , 6 0 0 part way through 2 0 2 4   Actual production in each year was  2 0 2 2   6 5 , 0 0 0 units  2 0 2 3   1 0 4 , 0 0 0 units  2 0 2 4   5 2 , 0 0 0 units  Mercury uses units   of production depreciation, and ail depreciation has been recorded through the disposal date  Required  Calculate the gain or loss on the sale  Prepare the journal entry to record the sale  Assuming that the equipment was instead sold for $ 1 4 3 , 6 0 0 , calculate the gain or loss on the sale  Prepare the journal entry to record the sale in requirement 3   Answer is complete but not entirely correct  Complete this question by entering your answers in the tabs below  Required 1 Required 2 Required 3 Required 4 Calculate the gain or loss on the sale  Note  Do not round intermediate calculations  Loss on sale of equipment $ ( 5 , 7 9 0 )

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Mercury Incorporated purchased equipment in 2 0 2 2 at a cost of $ 2 1 2 , 0 0 0 . The equipment was

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