Question #3 Capital Assets (4 marks) End-of-Term Company (EOT) uses straight-line deprecation, recorded monthly, and has a December 31 year-end. On January 1, 2020, EOT purchased equipment for $200,000 and an estimated residual value of $20,000. EOT estimates that they will use the equipment for 10 years. On March 31, 2023, EOT sells the equipment for $50,000. Required: Prepare the journal entries to record the depreciation for 2023 and the sale of equipment in 2023 (4) Date Account Debit Credit