On July 1, 2020, Bo-ring Company purchased used equipment for $12,500 GST exclusive. The company expected the equipment to remain in service for four years. The accountant depreciated the equipment on a straight-line basis with a $500 residual/ salvage/ trade-in value. On October 30, 2022, the company sold the equipment for a $2,000 GST exclusive. Bo-ring Company balances its accounts on 30 June. The business (company) is registered for GST. (8 marks) Required: (a) Prepare the journal entry to record depreciation before the disposal. (3 marks) (b) Prepare journal entries to record the sale of the equipment. (5 marks) A narration (explanation) of each journal is required