Sandhill Productions Corp. purchased equipment on March 1, 2021, for $74,800. The company estimated the equipment would have a useful life of three years and produce 10,000 units, with a residual value of $10,000. During 2021, the equipment produced 4,900 units. On November 30, 2022, the machine was sold for $18,000 and had produced 6,000 units that year. (a) - Your answer is partially correct. Record all the necessary journal entries for the years ended December 31, 2021 and 2022, using the following depreciation methods: (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round the depreciation rate in the double-diminishing-balance method to the nearest whole percent, e.g. 43% and round depreciation per unit in the units-of- production depreciation method to 2 decimal places, eg. 2.25 and final answers to 0 decimal places, e.g. 5,275.) (1) Straight-line Account Titles and Explanation Debit Credit Date 2021 Mar. 1 Equipment 74800 Cash 74800 Dec. 31 Depreciation Expense 18000 Accumulated Depreciation - Equipment 18000 2022 Nov. 30 Depreciation Expense 19800 19800 Accumulated Depreciation - Equipment (To record depreciation expense) Nov. 30 Cash 18000 Accumulated Depreciation - Equipment 37800 Loss on Disposal 19000 Equipment 74800 (To record the sale of machine) (2) Double-diminishing-balance Date Account Titles and Explanation Debit Credit 2021 Mar. 1 Equipment 74800 Cash 74800 Dec. 31 Depreciation Expense 41763 Accumulated Depreciation - Equipment 41763 2022 Nov. 30 Depreciation Expense 33037 Accumulated Depreciation - Equipment 45939 (To record depreciation expense) Nov. 30 Cash 18000 Accumulated Depreciation - Equipment Equipment 74800 Gain on Disposal (To record the sale of machine) (3) Units-of-Production Account Titles and Explanation Debit Credit Date 2021 Mar. 1 Equipment 74800 Cash 74800 Dec. 31 Depreciation Expense Accumulated Depreciation - Equipment 31752 2022 Nov. 30 Depreciation Expense 38880 Accumulated Depreciation - Equipment 38880 (To record depreciation expense) Nov. 30 Cash 18000 Accumulated Depreciation - Equipment 70632 Gain on Disposal 13832 Equipment 74800 (To record the sale of machine) e Textbook and Media List of Accounts Save for Later Attempts: unlimited Submit