On January $1,2023,$ Crane Ski Resort Ltd$.$ purchased snow making equipment for $$121,000$ by paying a $$24,200$ cash down payment

and issuing a note payable for the balance. The equipment had an estimated useful life of $10$ years and an estimated residual value of

$$24,200.$ Crane uses the straight$-$line$-$method of depreciation and has a December $31$ year end. On October $30,2025,$ the equipment

was sold for $$81,280$ cash.

$($a$)$

Prepare the journal entry to record the acquisition of the equipment. $($Credit account titles are automatically indented when the

amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. List

all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit

Jan. $1,$

Attempts: $0$ of $1$ used

$($b$)$

The parts of this question must be completed in order. This part will be available when you complete the part above.

$($c$1)$

The parts of this question must be completed in order. This part will be available when you complete the part above.

$($c$2)$

The parts of this question must be completed in order. This part will be available when you complete the part above.