Question 4: Cosmo Company owns equipment that cost $50'000 when purchased on 1/1/2019. It has been depreciated using the straight-line method based on estimated salvage value of $5'000 and an estimated useful life of 5 years. Instructions: Prepare Cosmo Company's journal entries to record the sale of the equipment in these three independent situations. (a) Sold for $28'000 on 1/1/2021. (After 2 years) (b) Sold for $24'000 on 1/1/2022. (After 3 years) (c) Sold for $14'000 on 1/1/2023. (After 4 years)