New lithographic equipment, acquired at a cost of $$859,200$ on March $1$ at the beginning of a fiscal year, has an estimated useful life of $5$ years and an estimated residual value of $$96,660.$ The manager requested information regarding the effect of alternative methods on the amount of depreciation expense each year.

In the first week of the fifth year, on March $4,$ the equipment was sold for $$141,422.$

Required:

$1.$ Determine the annual depreciation expense for each of the estimated $5$ years of use, 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 straight$-$line method and $($b$)$ the double$-$declining$-$balance method.

$2.$ Journalize the entry to record the sale, assuming 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.$