On January 1, 2023, Sandhill Ski Resort Ltd. purchased snow making equipment for $113,000 by paying a $22,600 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 $22,600. Sandhill uses the straight-line-method of depreciation and has a December 31 year end. On October 30, 2025, the equipment was sold for $75,740 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 0 for the amounts. List all debit entries before

On January 1, 2023, Sandhill Ski Resort Ltd. purchased snow making equipment for $113,000 by paying a $22,600 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 $22,600. Sandhill uses the straight-line-method of depreciation and has a December 31 year end. On October 30, 2025, the equipment was sold for $75,740 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 0 for the amounts. List all debit entries before credit entries.)