Pharoah Co. purchased equipment on March 1, 2019, for $115,000 on account. The equipment had an estimated useful life of five years, with a residual value of $5,000. The equipment is disposed of on February 1, 2022. Pharoah Co. uses the diminishing-balance method of depreciation with a 20% rate and calculates depreciation for partial periods to the nearest month. The company has an August 31 year end.

Record the disposal on February 1, 2022, under the following assumptions: (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 0 for the amounts.)

1.		It was scrapped with no residual value.
2.		It was sold for $65,380.
3.		It was sold for $55,610.
4.		It was traded for new equipment with a list price of $96,000. Pharoah was given a trade-in allowance of $52,000 on the old equipment and paid the balance in cash. Pharoah determined the old equipments fair value to be $57,760 at the date of the exchange.