Morris Incorporated recorded the following transactions over thelife of a piece of equipment purchased in Year 1:January 1, Year 1Purchased equipment for $14,200 cash. The equipment wasestimate January 1, Year 1 December 31, Year 1 September 30, Year 2 December 31 , Year 2 January 1, Year 3 December 31, Year 3 June 1, Year 4 December 31, Year January 1, Year 5 December 31, Year 5 October 1, 2 answers