Question 5 12 pts Middlesex County College acquired machinery on July 1, 2015 at a cost of $180,000. The estimated useful life of the machinery was 10 years and the estimated residual value was $20,000. M.C.C. uses the straight-line method of depreciation. On March 31, 2019, M.C.C. sold the equipment for $121,500. Chart of Accounts: (Enter names exactly as they appear below...copy and paste into answer blanks. commas.) Cash Equipment Accum. Deprec Depreciation Expense Loss on Sale Gain on Sale 1) Record the journal entry for the depreciation on this machinery for 2019 (year it was sold). Date Account Name Credit N 1) Record the journal entry for the depreciation on this machinery for 2019 (year it was sold). Date Account Name Debit Credit Mar 31 2) Record the journal entry for the sale of the machinery (assume all prior year depreciation was journalized and recorded, including the entry for depreciation that you journalized in step 1 above). Date Account Name Debit Credit Mar 31