Question 1 (a) Carnet Corporation purchased equipment in 2002 for $120,000 and estimated a $12,000 residual value at the end of the equipment's 10-year useful life. At December 31, 2008, there was $75,600 in the Accumulated Depreciation account for this equipment using the straight-line method of depreciation. On March 31, 2009, the equipment was sold for $28,000. Prepare all the appropriate journal entries to remove the equipment from the books of Carnet Corporation on March 31, 2009. (b) Ionic Corporation sold a delivery truck for $10,000, on July 31, 2009. The delivery truck originally cost $38,000 on January 1, 2001. It was estimated that the truck would have a useful life of 12 years with a residual value of $2,000. Prepare the appropriate journal entry to record the sale of the delivery truck. Assume all depreciation is fully recorded and up-to-date. (c) Theta Corp. sold office equipment that had a carrying value of $3,500, for $5,200. The office equipment originally cost $12,000 and it is estimated that it would cost $16,000 to replace the office equipment. Prepare the appropriate journal entry to record the sale of the office equipment. Assume all depreciation is fully recorded and up-to-date