New lithographic equipment, acquired at a cost of 5859,200 on March 1 of Year 1 (beginning of the fiscal year), has an estimated usefu life of five years and an estimated residual value of $96,660. The manager requested information regarding the effect of altemative methods on the amount of depreciation expense each year. On March 4 of Year 5 , the equipment was sold for $141,422. Required: 1. Determine the annual depreciation expense for each of the estimated five years of use, the accumulated depreciabion at the end of each year, and the book value of the equipment at the end of each year by (a) the straightine method and (b) the double-declining-balance method. Round your answers to the nearest whole dollar 2. Joumalize the entry to record the sale assuming that the manager chose the double-declining-balance method: 3. Journalize the entry to record the sale in (2) assuming that the equipment was sold for $96,962 instead of $141,422, * Refer to the chart of accounts for the exact wording of the account tilles. CNOW journals do not use lines for journal explanations. Every line on a joumal page is used for debit or credit entries. CNOW joumals will automatically indent a credit entry when a credit amount is entered. 1. Determine the annual depreciation expense for each of the estimated five years of use, the accumulated depreciation at the end of each year, and the book vatue of the equipment at the end of each year by (a) the straight-line method and (D) the double-declining-batance method Found your answers to the nearest whole dollar: b. Double-declining-balance method 2. On March 4, the entry to record the sale assuming that the mansger chose the double-declining-balance method Refer fo the chart of accounts for the exact wording of the account titles. CNOW joumals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries, CNOW journals will audomaticaly indent a credit entry when a credit amount is entered. 3. On March 4, the entry to record the sale in (2) assuming that the equipment was soid for $96,962 instead of $141,422. Refer fo the chart of accounts for the exact wording automatically indent a credit entry when a credit amount is entered