o a new model. He had Venkat Engineering decided to dispose of his old industrial evaporator and purchased the old evaporator on January 1, 2012 for $16,100. There was no salvage/residual value and the useful life Venkat had used was 5 years. Venkat depreciated his machinery using a Straight Line basis. On December 31, 2016, Venkat talked Chris into paying him $575 for the above referenced equipment. a) Calculate the Book Value at time of sale b) Calculate Venkat's gain or loss on this sale? Enter a loss as a negative value. c) Journalize this sale on Venkat's books on December 31, 2016 Date Description Debit Credit Dec 31