On January 2, 2012, Kinnamon Corp purchased equipment that cost $39,000. At the end of the equipment's 5 year useful life, Kinnamon expects to be able to recover the equipment's $2,000 residual value. The equipment is supposed to run for a total life of 10,000 hours. It is expected to be used 1,500 hours in year 1; 3,000 hours in year 2; 3,300 hours in year 3; and 1,100 hours each year for year's 4 and 5.

Assume that the company decided to sell the equipment in year 2 for $22,000 in cash. Can you show me how to prepare a journal entry using StraightLine, Production(Units of Production), and Double Declining Balance