Question 3 of 12 -/10 On January 1, 2020, Sustco Ltd. purchased a piece of equipment for $22,000. At the time management determined that the equipment would have a residual value of $4,000 at the end of its five-year life Sustco has a December 31 year end and uses the straight-line depreciation method. (Credit acoount titles are automatically indented when the amount is 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 Jan. 1, 2020 Dec. 31, 2020 Dec. 31, 2021 Dec. 31, 2022 e Textbook and Media List of Accounts On January 1, 2020. Sustco Ltd purchased a piece of equipment for $22.000 At the time management determined that the equipment would have a residual value of $4.000 at the end of its five year life. Sustco has a December 31 year end and uses the double diminishing balance method (Credit account titles are automatically indented when the amount is 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 Dobit Credit Jan. 1, 2020 Dec 31, 2020 Dec. 31, 2021 Dec. 31, 2022 On September 30, 2020. Sustco Ltd. purchased a piece of equipment for $22,000. At the time, management determined that the equipment would have a residual value of $4,000 at the end of its five-year life Sustco has a December 31 year end and uses the straight-line depreciation method. Sustco ended up selling the piece of equipment on June 30, 2022, for $13,500. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Acoount Tries and Explanation Debit Credit Sept. 30, 2020 Dec. 31, 2020 Dec. 31, 2021 Jun. 30, 2022 (To record depreciation expense) Jun. 30, 2022 (To record sale of equipment)