New lithographic equipment, acquired at a cost of $772,800 on March 1 at the beginning of a fiscal year, has an estimated useful life of five years and an estimated residual value of 586,940. The manager requested information regarding the effect of alterative methods on the amount of depreciation expense each year on the basis of the data presented to the manager, the double declining balance method was selected In the first week of the fifth year, on March 4, the equipment was sold for 130,585. ts for e TING EQU Required: 1. Determine the annual depreciation expense for each of the estimated five years of us, the accumulated depreciation at the end of each year, and the book value of the equipment at the end of each year by (a) the trainine method and (b) the double declining-balance method. Round your answers to the nearest whole dollar 2. Journalize the entry to record the sale assuming the manager chose the double-declining-balance method Refer to the Chart of Accounts for exact wording of accountitles 3. Journalize the entry to record the sale in (2), assuming that the equipment was sold for $87 105 instead of $130,585. Refer to the Chart of Accounts for exact wording of account billes ABILITIES Year Depreciation Expense $309,120 x Accumulated Depreciation, End of Year $309,120 X Book Value, End of Year 1 2 3 4 5 b. Double-declining-balance method Year Depreciation Expense $309,120 Accumulated Depreciation, End of Year $309,120 Book Value, End of Year $309,120 X 1 2 3 4 5 JOURNAL Scores 0/49 ACCOUNTING EQUATION BAT DECO COM AT Us TOT ti JOURNAL Score: 0/49 ACCOUNTING EQUATION DATE OCTOR POSTER OT CALORE AS213 LATIES EQUITY