No$.$ Account Titles and Explanation

$($a$)$

Accumulated Depreclation$-$Equlpment

Galn on Dlsposal of Plant Assets

Equipment

$($b$)$

$($To record depreciation$)$

Cash

Accumulated Depreclation$-$Equlpment

Galn on Dlsposal of Plant Assets

$($c$)$

$($To record sale of equipment$)$

$($d$)$

$($To record depreciation$)$

Debit

Credit

$($To recordsale of equipment$)$Crane Company owns equipment that cost $

$7$

$8$

$,$

$0$

$0$

$0$

$$when purchased on January

$1$

$,$

$2$

$0$

$2$

$2$

$.$

$$ It has been depreciated using the straight

$-$

line method based on an estimated salvage value of $

$6$

$0$

$0$

$0$

$$and an estimated useful life of

$5$

$$years$.$

Prepare Crane Company

$$

s journal entries to record the sale of the equipment in these four independent situations.

$($

Credit account titles are automatically indented when 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.

$)$

$($

a

$)$

$$ Sold for $

$3$

$7$

$2$

$0$

$0$

$$on January

$1$

$,$

$2$

$0$

$2$

$2$

$.$

$($

b

$)$

$$ Sold for $

$3$

$7$

$2$

$0$

$0$

$$on May

$1$

$,$

$2$

$0$

$2$

$2$

$.$

$($

c

$)$

$$ Sold for $

$1$

$3$

$2$

$0$

$0$

$$on January

$1$

$,$

$2$

$0$

$2$

$2$

$.$

$($

d

$)$

$$ Sold for $

$1$

$3$

$2$

$0$

$0$

$$on October

$1$

$,$

$2$

$0$

$2$

$2$