Prepare the appropiate journal entry to record the disposition of the equipment

Chapter 9 Plant Assets Faster Company purchased equipmeat in 2010 for $104,000 and estimated an $8,000 salvage value at the end of the equipment's 10-year useful life. At December 31, 2016, there was $67,200 in the Accunmu lated Depreciation account for this equipment using the straight-line method of depreciation On March 31,2017, the (a) equipment was sold for $21,000. Prepare the appropriate journal entries to remove the equipment from the books ofFaster Company on March 31, 2017. (b) Lewis Company sold equipment for $11,000. The equipment originally cost $25,000 in 2014 and $6,000 was spent on a major overhaul in 2017 (charged to the Equipment account). Accumulated Depreciation on the equipment to the date of disposal was $20,000 Prepare the appropriate journal entry to record the disposition of the equipment. (e) Selby Company sold equipment that had a book value of $13,500 for $15,000. The equipment originally cost $45,000 and it is estimated that it would cost $57,000 to replace the equipment. Instructions Prepare the appropriate journal entry to record the disposition of the equipment