Question 7 View Policies Current Attempt in Progress Lynn Company owns euoment that cost $120.000 when purchased on January2015. It has been depreciated using the sta che method based on estimated salvage value of $15.000 and an estimated usefu We of 5 years Prepare Lynn Company's journal entries to record the sale of the guiment in these four independent situations. Credit account tits are automatically indented when the amount is entered. Do not indent manually. If no entry is occountlesondenter for the amounts.) Sold for 558.000 on January 1, 2018 Sold for 558.000 on May 1, 2018 Id Sold for $32000 on January 1, 2018 Id Sold for $32.000 on October 1. 2018 Date Account Titles and Explanation Debit Credit to record degradation ) (To record depreciation expense) (To record disposal of equipment at a gain) (To record depreciation expense) (To record disposal of equipment at a loss) Save for Later