Pryce Company owns equipment that cost $72,000 when purchased on January 1, 2012. It has been depreciated using the straight-line method based on estimated salvage value of $3,000 and an estimated useful life of 5 years. Prepare Pryce Companys journal entries to record the sale of the equipment in these four independent situations.

(a) Sold for $42,400 on January 1, 2015. (b) Sold for $42,400 on May 1, 2015 (c) Sold for $10,160 on January 1, 2015. (d) Sold for $10,160 on October 1, 2015. No. Account Titles and Explanation Debit Credit To record depreciation) To record sale of equipment) ?oil? To record depreciation) To record sale of equipment)