Please answer all aspects the following question. Thank you.

Howarth Manufacturing Company purchased equipment on June 30,2017 , at a cost of $145,000. The residual value of the equipment was estimated to be $14,500 at the end of a five-year life. The equipment was sold on March 31,2021 , for $46,000. ktowthe-there months the asset is in service. Required: 1. Prepare the journal entry to record the sale. 2. Assuming that Howarth had instead used the double-declining-balance method, prepare the journal entry to record the sale. Complete this question by entering your answers in the tabs below. Assuming that Howarth had instead used the double-declining-balance method, prepare the journal entry to record the sale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Assuming that Howarth had instead used the double-declining-balance method, prepare the journal entry to record the sale. Note: Enter debits before credits