points Equipment was purchased on January 1st a cost of $130,000. The equipment was depreciated using the straight line metod based upon an estimated useful life of years and an estimated titul vale of 10,000 (a) What was the depreciation expense for the first year! () Asuming equipment was told the end of the second year for $95.000, determine the in or loss on sale of the equipment (0) Journalise the entry to record the sale For the toolba press ALTO PO ALTONE 10 Mac B TV 5 Paragraph Arial T: XQ V HIT 111 A 2 5