Problem #4 10 points On January 2, 2017, Barnes Enterprises purchased equipment for $50,000 cash, expecting the equipment to remain in service for five years, with a $5,000 residual value. Barnes uses straight-line depreciation. On April 30, 2019. Barnes sold the equipment for $20,000 cash. Round answers to the nearest dollar. Requirement: Prepare the journal entries to record the purchase of the equipment; depreciation for 2017, 2018, and 2019; and the sale of the equipment. Date Accounts Debit Credit