Question 6 (11 marks, suggested lime 8 - 10 minutes) Math Ltd. sells equipment on March 31, 2022, for $408,000. The equipment originally cost $776.000 which was purchased an January 1, 2020. It has a residual value of $60,000 and a useful life of 5 years. Depreciation was last recorded an December 31,2021 , the company's year end. Prepare the journal entries to: (No explanations needed) 1) Uipdate depreciation using the straight line method to Morch 31,2022 2) Record the sale of the equipment