Question 2 16 points) Listen Fantastic Company purchased equipment on January 1, 2018 for $70,000. . It is estimated that the equipment will have a $5,000 residual value at the end of its 5-year useful life. It is also estimated that the equipment will produce 100,000 units over its 5-year life. Assuming 16,000 units of product are produced in 2018 and 24,000 units are produced in 2019 The company sold the equipment on Dec 31,2019 for $50,000. The company is using units of production method to calculate the depreciation expense se 3: 3 3 Record the sale entry on Dec.31,2019