Purchased equipment on 1/1/16 for $120,000 with an expected useful life of 10 years and a salvage value of $12,000. During 2019, we revised the useful life to a TOTAL life of 6 years and a salvage value of $21,000. We close annually on December 31. On April 30, 2020, we sold the equipment for $70,000.

Prepare the entry to record the depreciation expense on 12/31/19 and the necessary entries on 4/30/20.