Pool Corporation, Incorporated, is the world's largest wholesale distributor of swimming pool supplies and equipment. Assume Pool Corporation purchased for cash new loading equipment for the warehouse on January $1$ of Year $1,$ at an invoice price of $$81,000.$ It also paid $$6,500$ for freight on the equipment, $$5,800$ to prepare the equipment for use in the warehouse, and $$1,550$ for insurance to cover the equipment during operation in Year $1.$ The equipment was estimated to have a residual value of $$7,800$ and be used over three years or $28,500$ hours.

Required:

Record the purchase of the equipment, freight, preparation costs, and insurance on January $1$ of Year $1.$

Create a depreciation schedule assuming Pool Corporation uses the straight$-$line method.

Create a depreciation schedule assuming Pool Corporation uses the double$-$declining$-$balance method.

Create a depreciation schedule assuming Pool Corporation uses the units$-$of$-$production method, with actual production of $9,500$ hours in Year $1$; $8,900$ hours in Year $2$; and $10,100$ hours in Year $3.$

On December $31$ of Year $2$ before the year$-$end adjustments, the equipment was sold for $$29,700.$ Record the sale of the equipment assuming the company used the straight$-$line method