PLEASE SHOW EACH STEP AND HOW YOU GOT THE SOLUTION FOR BETTER UNDERSTANDING FOR FUTURE HOMEWORK QUESTIONS.

LLC owns equipment costing $65,200 when purchased on January 1, 2017. It has been depreciated using the straight-line method based on an estimated salvage value of $4,200 and an estimated useful life of 5 years. Prepare journal entries to record the sale of the equipment in these four independent situations. (

(a)		Sold for $31,545 on January 1, 2020.
(b)		Sold for $31,545 on May 1, 2020.
(c)		Sold for $11,005 on January 1, 2020.
(d)		Sold for $11,005 on October 1, 2020.

Account Titles and Explanation Debit Credit (To record depreciation) (To record sale of equipment) (To record depreciation)