Miller Corp. purchased equipment for $220,000 on July 1, 2020. Miller Corp. intends to use the equipment for 5 years and then sell it for $20,000. The double declining balance method is used to depreciate the equipment. On October 1, 2023, Miller accepted an offer from Shaeffer Company and sold the equipment for $40,000. INSTRUCTIONS A) Prepare a depreciation schedule, indicating how much depreciation should be taken each calendar year Miller intended to use the equipment (ignoring the sale). B) Prepare a journal entry on the books of Miller Corp. to record depreciation expense for calendar year 2023 (year of sale). Show backup calculation. C) Prepare a journal entry on the books of Miller Corp. to record the sale of its equipment to Shaeffer Company. A. DEPRECIATION SCHEDULE FOR ALL YEARS Year Beginning book value Rate of depreciation Depreciation expense Accumulated depreciation Ending book value B. JOURNAL ENTRY FOR 2023 DEPRECIATION Show backup calculation here. Debit Credit C. JOURNAL ENTRY FOR THE SALE Debit Credit