Show Me How Print Item Sale of Equipment Equipment was acquired at the beginning of the vear at a cost of $32,250. The equipment was depredated using the double-declining-bulance method based an an estimated useful life of ten years and an estimated residual value of $630 a. What was the depreciation for the first year? b. Assuming the equipment was sold at the end of year 2 for $3,940, determine the gain or loss on the sale of the equipment. c. Journalize the entry to record the sale. 1f an amount box does not require an entry, leave it blank 40 11/2/2018 ^ Alt Gr