Part 3: PP&E Transactions 8) Tyler Inc. buys equipment on September 1,2018 for $175,000 cash. They estimate the equipment will have a salvage value of $40,000 and a useful life of 10 years. a. Write the journal entry to record depreciation for 2018. 12/31/18 b.Record the journal entry to record depreciation expense for the second year 12/31/19 What is the book value of this equipment on the December 31, 2019 Balance Sheet? c. 9) Rusty Industries purchased equipment on March 1, 2018 for $165,000. The equipment is estimated to have a $25,000 salvage value at the end of its 7-year life. The company uses straight-line method of depreciation. What is the balance in accumulated depreciation at 12/31/21? 10)On March 1, 2018, Crux Industries sells machinery for $63,000. The machinery originally cost $135,000 and had an estimated 9-year life with an expected salvage value of $27,000. The Accumulated Depreciation account had a balance of $85,976 on December 31, 2017 a. What is the gain or loss on the date of the sale? (Hint: Don't forget to update depreciation through the date of sale first!) b. What is the journal entry to record this sale? 03/01/2018