On January 1, 2020, Sustco Ltd. purchased a piece of equipment for $22,000. At the time, management determined that the equipment would have a residual value of $4,000 at the end of its five-year life. Sustco has a December 31 year end and uses the straight-line depreciation method. (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 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 1, 2020	Enter an account title for the journal entry on january 1, 2020.	Enter a debit amount.	Enter a credit amount.
	Enter an account title for the journal entry on january 1, 2020.	Enter a debit amount.	Enter a credit amount.
Dec. 31, 2020	Enter an account title for the journal entry on december 31, 2020.	Enter a debit amount.	Enter a credit amount.
	Enter an account title for the journal entry on december 31, 2020.	Enter a debit amount.	Enter a credit amount.
Dec. 31, 2021	Enter an account title for the journal entry on december 31, 2021.	Enter a debit amount.	Enter a credit amount.
	Enter an account title for the journal entry on december 31, 2021.	Enter a debit amount.	Enter a credit amount.
Dec. 31, 2022	Enter an account title for the journal entry on december 31, 2022.	Enter a debit amount.	Enter a credit amount.
	Enter an account title for the journal entry on december 31, 2022.	Enter a debit amount.	Enter a credit amount.

On January 1, 2020, Sustco Ltd. purchased a piece of equipment for $22,000. At the time, management determined that the equipment would have a residual value of $4,000 at the end of its five-year life. Sustco has a December 31 year end and uses the double-diminishing-balance method. (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 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 1, 2020	Enter an account title for the journal entry on january 1, 2020.	Enter a debit amount.	Enter a credit amount.
	Enter an account title for the journal entry on january 1, 2020.	Enter a debit amount.	Enter a credit amount.
Dec. 31, 2020	Enter an account title for the journal entry on december 31, 2020.	Enter a debit amount.	Enter a credit amount.
	Enter an account title for the journal entry on december 31, 2020.	Enter a debit amount.	Enter a credit amount.
Dec. 31, 2021	Enter an account title for the journal entry on december 31, 2021.	Enter a debit amount.	Enter a credit amount.
	Enter an account title for the journal entry on december 31, 2021.	Enter a debit amount.	Enter a credit amount.
Dec. 31, 2022	Enter an account title for the journal entry on december 31, 2022.	Enter a debit amount.	Enter a credit amount.
	Enter an account title for the journal entry on december 31, 2022.	Enter a debit amount.	Enter a credit amount.

On September 30, 2020, Sustco Ltd. purchased a piece of equipment for $22,000. At the time, management determined that the equipment would have a residual value of $4,000 at the end of its five-year life. Sustco has a December 31 year end and uses the straight-line depreciation method. Sustco ended up selling the piece of equipment on June 30, 2022, for $13,500. (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 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Sept. 30, 2020	Enter an account title for the journal entry on september 30, 2020.	Enter a debit amount.	Enter a credit amount.
	Enter an account title for the journal entry on september 30, 2020.	Enter a debit amount.	Enter a credit amount.
Dec. 31, 2020	Enter an account title for the journal entry on december 31, 2020.	Enter a debit amount.	Enter a credit amount.
	Enter an account title for the journal entry on december 31, 2020.	Enter a debit amount.	Enter a credit amount.
Dec. 31, 2021	Enter an account title for the journal entry on december 31, 2021.	Enter a debit amount.	Enter a credit amount.
	Enter an account title for the journal entry on december 31, 2021.	Enter a debit amount.	Enter a credit amount.
Jun. 30, 2022	Enter an account title to record depreciation expense on june 30, 2022.	Enter a debit amount.	Enter a credit amount.
	Enter an account title to record depreciation expense on june 30, 2022.	Enter a debit amount.	Enter a credit amount.
	(To record depreciation expense)
Jun. 30, 2022	Enter an account title to record sale of equipment on june 30, 2022.	Enter a debit amount.	Enter a credit amount.
	Enter an account title to record sale of equipment on june 30, 2022.	Enter a debit amount.	Enter a credit amount.
	Enter an account title to record sale of equipment on june 30, 2022.	Enter a debit amount.	Enter a credit amount.
	Enter an account title to record sale of equipment on june 30, 2022.	Enter a debit amount.	Enter a credit amount.
	(To record sale of equipment)