Question Content Area Entries for sale of fixed asset Equipment acquired on January 8 at a cost of $144,280 has an estimated useful life of 14 years, has an estimated residual value of $8,200, and is depreciated by the straight line method Question Content Area a What was the book value of the equipment at December 31 the end of the fourth year fill in the blank 1 of 1$ Question Content Area b Assuming that the equipment was sold on April 1 of the fifth year for $97,095 1 Journalize the entry to record depreciation for the 3 months until the sale date If an amount box does not require an entry, leave it blank Round your answers to the nearest whole dollar if required blank Account Debit Credit blank Accounts PayableAccumulated Depreciation EquipmentCashDepreciation Expense EquipmentEquipment Select Select Accounts PayableAccumulated Depreciation EquipmentCashDepreciation Expense EquipmentEquipment Select Select Question Content Area 2 Journalize the entry to record the sale of the equipment If an amount box does not require an entry, leave it blank Do not round intermediate calculations blank Account Debit Credit blank Accounts PayableCashDepreciation Expense EquipmentEquipmentGain on Sale of Equipment Select Select Accounts PayableAccumulated Depreciation EquipmentDepreciation Expense EquipmentEquipmentGain on Sale of Equipment Select Select Accounts ReceivableDepreciation Expense EquipmentDepreciation Payable EquipmentEquipmentLoss on Sale of Equipment Select Select Accumulated Depreciation EquipmentEquipmentEquipment ExpenseGain on Sale of EquipmentLoss on Sale of Equipment Select Select

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Question Content Area Entries for sale of fixed asset Equipment acquired on January 8 at a cost of $144,280 has an estimated useful life of

Question Content Area

Entries for sale of fixed asset

Equipment acquired on January 8 at a cost of $144,280 has an estimated useful life of 14 years, has an estimated residual value of $8,200, and is depreciated by the straight-line method.

Question Content Area

a. What was the book value of the equipment at December 31 the end of the fourth year? fill in the blank 1 of 1$

Question Content Area

b. Assuming that the equipment was sold on April 1 of the fifth year for $97,095.

1. Journalize the entry to record depreciation for the 3 months until the sale date. If an amount box does not require an entry, leave it blank. Round your answers to the nearest whole dollar if required.

blank	Account	Debit	Credit
blank	Accounts PayableAccumulated Depreciation-EquipmentCashDepreciation Expense-EquipmentEquipment	- Select -	- Select -
	Accounts PayableAccumulated Depreciation-EquipmentCashDepreciation Expense-EquipmentEquipment	- Select -	- Select -

Question Content Area

2. Journalize the entry to record the sale of the equipment. If an amount box does not require an entry, leave it blank. Do not round intermediate calculations.

blank	Account	Debit	Credit
blank	Accounts PayableCashDepreciation Expense-EquipmentEquipmentGain on Sale of Equipment	- Select -	- Select -
	Accounts PayableAccumulated Depreciation-EquipmentDepreciation Expense-EquipmentEquipmentGain on Sale of Equipment	- Select -	- Select -
	Accounts ReceivableDepreciation Expense-EquipmentDepreciation Payable-EquipmentEquipmentLoss on Sale of Equipment	- Select -	- Select -
	Accumulated Depreciation-EquipmentEquipmentEquipment ExpenseGain on Sale of EquipmentLoss on Sale of Equipment	- Select -	- Select -