nent CULATOR FULL SCREEN PRINTER VERSION BACK Exercise 9-9 Shown below are the T-accounts relating to equipment that was purchased for cash company straight-line basis with an estimated useful Iife of 10 years and a savay a compay on the first day of the current year. The equipment was deprediated on a lfe of 10 years and a salvage value of $100. Part of the equipment was sold on the last day of the current year for cash proceeds. Cash an. 1 Dec. 31 450 Equipment Jan. 1 1,100 Dec. 31 440 Accumulated Depreciation-Equipment Dec. 31 40 Dec. 31 100 Dec. 31 Depreciation Expense Dec. 31 tb) Gain on Disposal of Plant Assets Dec. 31 Prepare the journal entries to record purchase of equipment on January 1. (Credit account titles are automatically indented when the amount is en manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Jan. 1 Debit Credit