Only need 2 and 4.

Mercury Inc. purchased equipment in 2019 at a cost of $313,000. The equipment was expected to produce 310,000 units over the next five years and have a residual value of $34,000. The equipment was sold for $167,900 part way through 2021. Actual production in each year was: 2019 = 44,000 units 2020 = 70,000 units 2021 = 35,000 units. Mercury uses units-of-production depreciation, and all depreciation has been recorded through the disposal date. Required: 1. Calculate the gain or loss on the sale. 2. Prepare the journal entry to record the sale. 3. Assuming that the equipment was instead sold for $181,900, calculate the gain or loss on the sale. 4. Prepare the journal entry to record the sale in requirement 3.

X Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare the journal entry to record the sale. (If no entry is required for a transaction/event, select "No journal entry require in the first account field. Do not round intermediate calculations.) No Event General Journal Debit Credit 1 1 Cash 167,900 Accumulated depreciation-equipment 134,100 11,000 X Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare the journal entry to record the sale in requirement 3. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations.) No Event General Journal Debit Credit 1 1 Cash 181,900 134, 100 Accumulated depreciation-equipment Equipment