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Oriole Enterprises purchased equipment on January 1, 2020, at a cost of 342.000. Oriole uses the straight-line depreciation method. a 5-year estimated useful life, and no residual value. At the end of 2020. independent appraisers determined that the assets have a fair value of 318,000 Prepare the journal entry to record 2020 depreciation using the straight-line method. (Credit account tities are automatically Indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit (To record depreciation experise) Prepare the journal entry to record the revaluation of the equipment. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Account Titles and Explanation (To adjust the plant assets to fair value and record revaluation surplus) e Textbook and Media List of Accounts Prepare the journal entry to record 2021 depreciation, assuming no additional revaluation. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record depreciation expense) Current Attempt in Progress Concord Manufacturing owns equipment that cost 66,600 when purchased on January 1, 2017. It has been depreciated using the straight line method based on an estimated residual value of 3,300 and an estimated useful life of 5 years. Prepare Concord's journal entries to record the sale of the equipment in these four independent situations. (Credit account titles are automatically indented when amount is entered. Do not indent manually) (a) Sold for 42,200 on January 1.2020 (6) Sold for 42.200 on May 1, 2020, (c) Sold for 10.000 on January 1, 2020. (d) Sold for 10,000 on October 1, 2020, Debil Credil No. Account Titles and Explanation No. Account Tities and Explanation Debit Credit (a) (6) (To record depreciation) (b) (To record depreciation) (To record sale of equipment) (c) (To record sale of equipment) c) (d) (To record depreciation) (To record depreciation) (To record sale of equipment) Texthonk and Media