Problem 2. The following transactions are independent of each other. (a) The Barnes Company purchased equipment in January 1 year 1 for $80,000 and estimated a $8,000 salvage value at the end of the equipment's 10-year useful life. At December 31 year 7, there was $50,400 in the accumulatec depreciation account for this equipment using the straight-line method of depreciation. On March 31 year 8, the equipment was sold for $21,000. (b) The Lanne Company sold a delivery truck for $11,000. The delivery truck originally cost $25,000 in January 1 year 1 and $6,000 was spent on a major overhaul in year 4 (charged to Delivery Truck account). Accumulated depreciation on the delivery truck to the date of disposal was $20,000. (c) The Prince Company sold office equipment that had a book value of $4,500 for $6,000. The office equipment originally cost $15,000 and it is estimated that it would cost $19,000 to replace the office equipment. Instructions (a) Prepare the appropriate journal entries to remove the equipment from the books of Barnes on March 31 year 8. (b) Prepare the appropriate journal entry to record the disposition of the delivery truck in the books of Lanne. (c) Prepare the appropriate journal entry to record the disposition of the office equipment in the books of Prince