sbRLocator-assignment-takeinprogress false ntries for sale of fixed asset art of Acc First Question Journal Instructions Equipment acquired on January 8 at a cost of $168,000, has an estimated useful life of 18 years, has an estimated residual yalue of $15,000, and is depreciated by the straight-line method A. What was the book value of the equipment at December 31 the end of the fourth year? B. Assuming that the equipment was sold on Apri 1 of the fifth year for $125 000 joumalize the entries to record (1) depreciation for the three months until the sale date, and (2) the sale of the equipment Refer to the Chart of Accounts for EXPENSES 116 Merchandise Inventory Instructions Journal Shaded cells have feedback How does grading work? JOURNAL Score: 42/49 ACCC DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS Apr.1 Cash 125,000.00 Accumulated Depreclation-Equipment 67,500.00 Loss on Sale of Equipment 168,000.00 Equipment Previous Check My Work 14 PM