Oriole Company owns equipment that cost $$120,000$ when purchased on January $1,2018.$ It has been depreciated using the straight$-$line methoc estimated salvage value of $$18,000$ and an estimated useful life of $5$ years.

Prepare Oriole Company's journal entries to record the sale of the equipment in these four indel dent situations. $($Credit account titles are indented when the amount is entered. Do not indent manually. List all debit entri trefore credit entries. If no entry is req Entry" for the account titles and enter $0$ for the amounts.$)$

$($a$)$ Sold for $$60,500$ on January $1,2021.$

$($b$)$ Sold for $$60,500$ on May $1,2021.$

$($c$)$ Sold for $$34,500$ on January $1,2021.$

$($d$)$ Sold for $$34,500$ on October $1,2021.$

No$.$ Account Titles and Explanation

Debit

$60500$

Accumulated Depreciation$-$Equipment

Gain on Disposal of Plant Assets

$($b$)$

Depreciation Expense

Accumulated Depreciation$-$Equipment

$($To record depreciation expense$)$

$$

Accumulated Depreciation$-$Equipment

Gain on Disposal of Plant Assets

$($To record disposal of equipment at a gain$)$

$($c$)$

Accumulated Depreciation$-$Equipment