On March 31, 2021, Company A purchased a factory complete with vehicles and equipment. The distribution of the total purchase price of $1,500,000 to the various types of assets along with the estimated useful lives & residual values as follows:

COMPANY A
				Estimated	Estimated Useful
Asset			Cost	Residual Value	Life in Years
Land	$ 150,000	N/A	N/A
Building	750,000	none	25
Equipment	360,000	10% of cost	8
Vehicles	240,000	$12,000	8
Total	$ 1,500,000
Additional information:
Equipment sold 6/29/22	$ 120,000
Original cost of equipment on 3/31/21	$ 150,000
Depreciation method for buildings and
equipment	Straight Line
Depreciation method for vehicles			Double-declining-balance
Partial-year depreciation based on months in service

On June 29, 2022, equipment included in the March 31, 2021, purchase that cost $150,000 and was sold for $120,000. Company A uses the straight-line depreciation method for buildings and equipment and the double-declining-balance method for vehicles. Partial-year depreciation is calculated based on the number of months an asset is in service.

Complete the following.

1) Find depreciation expense on the building, equipment, and vehicles for 2021. 2) Prepare the journal entries for 2022 to record (a) depreciation on the equipment sold on June 29, 2022, and (b) the sale of the equipment. Round to the nearest whole dollar amount. 3) Find depreciation expense on the building, remaining equipment and vehicles for 2022.