Question 35 19 Goodbar Company sells equipment for $75,000 cash. The equipment has a historical cost of $250,000 and accumulated depreciation of $180,000. The journal entry to record the sale of the equipment includes: a credit to Accumulated Depreciation Equipment of 180,000 a credit to Gain on Sale of Equipment for $5,000 a debit to Depreciation Expense of 180,000 a debit to Loss on Sale of Equipment for $5,000 Idaho Company sells 20,000 units of inventory during the first year of operations for $200 each. Idaho Company one-year warranty on parts. It is estimated that 2% of the units will be defective and that repair costs are estima per unit. In the year of sale, warranty contracts are honored on 50 units for a total cost of $1,500. What amount u reported as Estimated Warranty Liability at the end of the year? $13,500 a $10,500 $11,000 $12,000 On January 1, 2021, Musketeers Company acquired equipment for $400,000. The estimated life of the equi or 7,000 hours. The estimated residual value is $50,000. What is the depreciation expense for 2021, if Muske uses the asset 1,200 hours and uses the units-of-production method of depreciation? (Round any intermediar to two decimal places and your final answer to the nearest dollar.) $160,000 $60,000 $70,000 $68,568