Question 11 Sunland Company sells equipment on March 31, 2021. for $34,445 cash. The equipment was purchased on January 5, 2018 at a cost of $83.500, and had an estimated useful life of five years and a residual value of $3,300. Susland Company uses straight-line depreciation for equipment. Adjusting journal entries are made annually at the company's year end, December 31. Your answer is correct Prepare the journal entry to update depreciation to March 31, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry required, elect"No Entry for the account titles and enter for the amounts.) (b) Your answer is correct. Prepare the journal entry to record the sale of the equipment. (Credit account titles are automatically indented when the amount is entered. Do not ind required, select "No Entry" for the account titles and enter for the amounts.) (c) Your answer is partially correct. Try again. Prepare the journal entry to record the sale of the equipment if Sunland Company received $27,270 cash for it. (Credit account titles are automatically indented when to entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Mar 317 cash Accumulated Depreciation Loss on Disposal Equipment (To record disposal of equipment.) SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO By accessing this question Assistance, you will learn while you earn points based on the Point Potential Polley set by your instructor