On January 1, 2009, Julie Enterprise has an equipment at cost RM135,620 and RM81,374 accumulated depreciations. In 2009, Julie Enterprise purchase new equipment at a cost of RM47,800 by selling old equipment (original cost RM36,000 and accumulated depreciation RM28,224) at fair value (trade-in allowances ) RM5,700. Equipment is depreciated at 40% using the declining -balance method. Depreciation will be charged on all equipment used at the end of the financial year and depreciation on assets disposed will not be charged in the year of disposal. Julie Enterprise financial year ended on December 31, 2009. REQUIRED: i. Show the calculations and provide the journal entries to record the purchase of new equipment and the sale of old equipment. What is the profit or loss of the trade in. ii. Calculate the equipment depreciation expense and journal entries to record depreciation expense in 2009