PROBLEMS - You must show your work/calculations to receive any credit 1. Computer equipment purchased 6 years ago for $170,000, with an estimated life of 8 years and a residual value of $10,000, is now sold. Accumulated depreciation equals $130,000. Journalize the sale of the equipment, assuming it is sold for $35,000 cash. Account Debit Credit 2. A copy machine acquired with a cost of $1,410 has an estimated useful life of 4 years. It is also expected to have a useful operating life of 13,350 copies. Assuming that it will have a residual value of $75, determine the depreciation for the first two years by the following methods: a. Double-declining-balance b. Units-of-activity (4,500 copies were made the first year, 4,200 copies in the second year)