Oriole Productions Corp. purchased equipment on March 1, 2021, for $77,000. The company estimated the equipment would have a useful life of three years and produce 10,000 units, with a residual value of $5,000. During 2021, the equipment produced 4,700 units. On November 30, 2022, the machine was sold for $18,000 and had produced 5,900 units that year. (a) Your answer is partially correct. Record all the necessary journal entries for the years ended December 31, 2021 and 2022, using the following depreciation methods: (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round the depreciation rate in the double-diminishing-balance method to the nearest whole percent, eg. 43% and round depreciation per unit in the units-of- production depreciation method to 2 decimal places, eg. 2.25 and final answers to decimal places, eg. 5,275.) (1) Straight-line Date Account Titles and Explanation Debit Credit 2021 Equipment Mar 1 77.000 Cash 77,000 Dec. 31 Depreciation Expense 20000 Accumulated Depreciation - Equipment 20000 2022 Nov. 30 Depreciation Expense 18600 18600 Accumulated Depreciation - Equipment (To record depreciation expense) Nov. 30 Cash Accumulated Depreciation - Equipment Loss on Disposal Equipment (To record the sale of machine) 2) Double-diminishing-balance Debit Credit Date Account Titles and Explanation 2021 Mar. Equipment 1 Cash Dec. 31 Depreciation Expense Accumulated Depreciation - Equipment 2022 Nov. 30 Depreciation Expense Accumulated Depreciation - Equipment (To record depreciation expense) Cash Nov. 30 Accumulated Depreciation - Equipment re Equipment (To record the sale of machine) 3) Units-of-Production Debit Credit Date Account Titles and Explanation 2021 Mar. Equipment 1 Cash Dec. 31 Depreciation Expense Accumulated Depreciation - Equipment 2022 Nov. 30 Depreciation Expense Accumulated Depreciation - Equipment (To record depreciation expense) Cash MILANO IND Nov. 30 Accumulated Depreciation - Equipment Gain on Disposal Equipment (To record the sale of machine)