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need help on below urgently!! On May 28, 2021, Wildhorse Services purchased equipment for $98,400, giving the supplier a 1-year note at 6% (due at

need help on below urgently!!

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On May 28, 2021, Wildhorse Services purchased equipment for $98,400, giving the supplier a 1-year note at 6% (due at maturity) for $80,910, and paid the balance with cash. Wildhorse also paid Wu Engineering $7,200 cash for installing the equipment on May 30. The equipment's useful life was estimated to be ve years, with an $18,000 residual value. The straight-line method of depreciation is used for equipment and Wildhorse has a calendar year end. On October 4, 2023, the equipment was destroyed in an accident. Wild horse received $61,700 cash as insurance proceeds for the equipment. Record the transactions of May 28 and 30, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit 2021 May 28 Equipment 98400 Cash 17490 Notes Payable 80910 May 30 Equipment 7200 Cash 7200Record the depreciation expense for Wildhorse for the scal years ended December 31, 2021 and 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit 2021 Dec. 31 Depreciation Expense 17520 Accumulated Depreciation - Equipment 17520 2022 Dec. 31 Depreciation Expense 35040 Accumulated Depreciation - Equipment 35040 eTextbook and Media List of Accounts Date Account Titles and Explanation Debit Credit 2023 Oct. 4 Depreciation Expense 48180 Accumulated Depreciation - Equipment 48180 (To record depreciation expense) Oct. 4 Cash 61,700 Loss on Disposal 4280 Accumulated Depreciation - Equipment 48180 Equipment 105600 (To record sale of equipment)Repeat parts (b) and (c) under the assumption that Wi Idhorse Services used the diminishing balance method, using a rate of 20%. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. if no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, es. 5,275.) Date Account Titles and Explanation Debit Credit 2021 Dec. 31 2022 Dec. 31 2023 Oct. 4 (To record depreciation expense) Oct. 4 (To record sale of equipment)

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