On April 1, 2021, Parks Co. purchased machinery at a cost of $42,000. The machinery is expected to last 10 years and to have a residual value of $6,000. Required: Prepare the journal entries to record 2021 depreciation and the sale of the equipment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 03:12:38 Kipped View transaction list Journal entry worksheet Record the depreciation for office equipment purchased on March 31, 2018 for $24,000 having no residual value sold on September 30, 2021 , depreciated over a five-year life using the straight-line method, with depreciation based on months in service. Note: Enter debits before credits. Event General Journal Debit Credit On April 1, 2021, Parks Co. purchased machinery at a cost of $42,000. The machinery is expected to last 10 years and to have a residual value of $6,000. Required: Prepare the journal entries to record 2021 depreciation and the sale of the equipment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 03:12:38 Kipped View transaction list Journal entry worksheet Record the depreciation for office equipment purchased on March 31, 2018 for $24,000 having no residual value sold on September 30, 2021 , depreciated over a five-year life using the straight-line method, with depreciation based on months in service. Note: Enter debits before credits. Event General Journal Debit Credit