Prepare all necessary journal entries for 2020, 2021, and 2022 related to each of the following scenario:

List of Accounts

• Accumulated Amortization - Franchise
• Accumulated Amortization - Patent
• Accumulated Depreciation - Buildings
• Accumulated Depreciation - Equipment
• Accumulated Depreciation - Furniture
• Accumulated Depreciation - Machinery
• Accumulated Depreciation - Sat. A
• Accumulated Depreciation - Sat. B
• Accumulated Depreciation - Vehicles
• Accumulated Impairment Losses - Buildings
• Accumulated Impairment Losses - Equipment
• Accumulated Impairment Losses - Patent
• Amortization Expense - Franchise
• Amortization Expense - Patent
• Buildings
• Cash
• Depreciation Expense
• Equipment
• Franchises
• Furniture
• Gain on Disposal
• Goodwill
• Loss on Disposal
• Loss on Impairment
• Machinery
• No Entry
• Notes Payable
• Other Operating Expenses
• Patents
• Sat. A
• Sat. B
• Rent Expense
• Trucks

On September 30, 2020, Sustco Ltd. purchased a piece of equipment for $14,000. At the time, management determined that the equipment would have a residual value of $2,000 at the end of its five-year life. Sustco has a December 31 year end and uses the straight-line depreciation method. Sustco ended up selling the piece of equipment on June 30, 2022, for $7,600. (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 for the amounts.) Date Account Titles and Explanation Debit Credit Sept. 30, 2020 Dec. 31, 2020 Dec. 31, 2021 Jun 30, 2022 (To record depreciation expense) Jun 30, 2022 (To record sale of equipment)